CGF Articles & Editorials
BOARD INDUCTION: A CRITICAL COMPONENT FOR BOARD UNDERSTANDING AND PERFORMANCE (2017-02-15)
By Terrance M. Booysen and reviewed by Andrew Johnston (Director: Corporate Services - Sun International)
As Sir Winston Church famously once said, “There comes into the life of every man a task for which he and he alone is uniquely suited. What a shame if that moment finds him either unwilling or unprepared for that which would become his finest hour.” Undeniably, this axiom would apply when new directors are not properly inducted within the context of their new board environment and the affairs of the organisation.
Given the wide reaching implications and personal liability which is attached to directors in most juristic entities -- be these of a local or international arena -- it would be foolish for any person intending to occupy a board position, not to be properly inducted into the affairs of the organisation. It is imperative that the induction process is properly designed and that it covers as much relevant information in order to allow the new director entering the board an opportunity to become familiar with the affairs of the organisation as quickly as possible.
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