All organizations, whether they are in the public or private sector, require a framework of governance. The problems which arise in the governance of voluntary, public sector or professional service organizations are of similar nature. As one commentator put it, ‘in some areas governance structures are even more important outside the corporate sector than within it‘.
At Prime KBS we take the view that the framework of governance means clear rules and transparent conventions that guide the strategy and policy-making processes of the organization. The basis of all governance framework is disclosure, that is the disclosure of information to a wide range of stakeholders. Transparency is the key to the governance of any organization.
This implies openness about the management of an organization. It ensures positive and constructive influence of stakeholders to the strategy and policy –making process within the organization. Openness also assures public confidence in the institutions of society.
Confidence is further assured by the presence of independent outsiders on any governing body. External independent members of a Board of Directors, for example, provide an important check and balance against managerial interests. The checks and balances in any system of governance ensure that ‘too much power is not concentrated in one pair of hands.
The institute’s faculty conducts Corporate Governance Programmes, a Knowledge Based Solution in Nigeria and the UK. The aim of this programme is to enhance the problem solving approach of directors to the essence of corporate governance and good corporate husbandry . These results are achieved through project-driven Action-Learning approach, in which the workplace is the laboratory of learning.