CGF Articles & Editorials
By Terrance M. Booysen (Director: CGF) and Ramani Naidoo (Author: Corporate Governance - An essential guide for South African companies)
Management guru, Peter Drucker, is often quoted as saying, “If you can’t measure it, you can’t manage [or improve] it”. Constructive feedback is integral to a process of development, growth and improvement, not least in an organisational setting, and especially in the case of boards of directors. In their leadership roles, directors are expected to fulfill their statutory, fiduciary and ethical duties towards an organisation, and their performance in this role should be evaluated so that their effectiveness can be assessed and tested against best practice and appropriate benchmarks. Where lacking, actions for improvement should be put in place -- whether on an individual or collective basis -- for the benefit of the board as well as for the organisation and its stakeholders.
Since 2003, the executive team of CGF realised the complexity of business, furthermore the manner in which boards of directors would grapple with not only a barrage of increasing legislation from local and international sources, but also the business and governance challenges that arise from a myriad of changes spurred by evolving business models, dissipating traditional business boundaries, the complexities of mixed generational workforces, as well as quantum technological developments.
There is old-age adage that goes: “If you want something done, ask a busy person to do it.” As this phrase evolved through the years, and as women have become key catalysts in changing the modern day professional workplace, it is little wonder that the expression is sometimes heard as: “If you want something done well and properly, ask a busy woman to do it”!
By Terrance M. Booysen (Director: CGF) and peer reviewed by Heleen Wright (Business Services Director: WTS Business Services)
Organisational succession planning, and the associated management and implementation of such plans, has traditionally been viewed as a long-term, deliberate and well-thought-out process. This thinking shouldn’t change in the context of modern organisations. However, the advent and continuation of the Fourth Industrial Revolution has meant that the process of succession planning and management can no longer afford to be reactive or relegated to the backburner.
By Terrance M. Booysen (Director: CGF) and peer reviewed by Dr. Peter Tobin (GDPR & POPIA Specialist)
In recent months, there has been much discussion and focus on GDPR -- the new European Union (‘EU’) General Data Protection Regulation 2016/679 -- which came into force on 25 May 2018. This EU legislation aims to strengthen the application and enforcement of data privacy laws, not only through its principles and the obligations it places on organisations, but also through its global reach.
By Terrance M. Booysen (Director: CGF) and peer reviewed by Jayson Kent (Cowan-Harper-Madikizela Attorneys: Senior Associate)
In today’s fast-paced business environment, where time is of the essence, any manner in which processes can be streamlined, made more efficient, and concluded within a shorter time frame than previously possible, is generally met with positivity and appreciation. This is no less the case in the realm of dispute resolution, since parties to a failed agreement often find that there is hardly time to have a dispute, let alone resolve it. Increasingly the benefits of Alternative Dispute Resolution (‘ADR’) are being lauded over more traditional, litigious methods which most often start with contending and expensive lawyers, followed by complex, expensively drawn out legal processes.
By Terrance M. Booysen and peer reviewed by David Loxton (Chief Executive Officer: Africa Forensics & Cyber)
Being able to speak the truth, without the fear of being intimidated or being politically incorrect is a liberty that sets a person free, both physically and psychologically. However, this attribute is increasingly more difficult to find in the leadership and structures of the ‘new’ democratic South Africa. This is ironic, in fact also bizarre and especially so in a country equipped with a Constitution that is considered to be one of the best in the world.
By Terrance M. Booysen (Director: CGF) and peer reviewed by Lucien Caron (Lead Independent Consultant: CGF)
The role of a company secretary is broad and onerous to say the least and, if this post is not occupied by a competent person who has the appropriate knowledge and skills; the consequences can be the cause of significant organisational friction. The requirements and reporting lines of the position -- by their very nature -- give rise to potential conflict situations, and it is for this reason in particular, that the person appointed to the position must have the necessary maturity, experience and independence to properly carry out their duties and responsibilities, while being objective, impartial and independent.
By Junadi Jooste (CGF: Lead Independent Consultant) and peer reviewed by Jené Palmer (CGF: Director)
Corporate failures result from poor governance. There are a multitude of reasons for poor governance, but at the heart lies the composition and effectiveness of the board. Clearly, it is time for the Nominations Committee to take a stronger and more definitive role in ensuring the long-term health of the board and thereby the organisation.
As one of the country’s foremost criminal authorities in the fraud, theft, forgery and corruption arena -- known generally as white-collar crime -- David Loxton (BComm, LLB & MBA, UCT) is renowned for his legal knowledge and experience when it comes to investigating these crimes which are perpetuated by some of the largest criminal syndicates who are often intricately connected both locally and internationally. However, before David became highly sought after as a specialist attorney in white-collar crime, he spent several years ‘cutting his teeth’ as a state prosecutor in Cape Town and Pretoria, where he prosecuted a complete range of “street crimes” including murder, rape, robbery and drug-dealing.