Regain the sense of wonder in the boardroom

first_imgEach board member demonstrates an active openness to question complex, controversial, or ambiguous matters. Each board member behaves in the best interest of the organization. Our board, as a whole, does not accept easy answers; we ask powerful questions. Each board member asks difficult questions. Conducting oversight: Oversight requires expertise, deliberate dialogue, communication of expectations of financial strength, risk management, reputation and regulatory challenges, and evaluation of the board and the CEO. Do we have the financial strength to weather another economic setback? How is the CEO capable of leading the organization into the future, what support does he or she need, and what is the quality of our Board-CEO relationship? What do we, as a board, need to improve in our leadership?Earlier I mentioned a culture of inquiry, which I believe is a best practice for all high-performing teams and boards. A culture of inquiry encourages curiosity, maximizes engagement in gathering relevant information, and increases knowledge across the room. Equal access is provided in real time to all participants in order to provide a level setting for a rich and deliberate boardroom dialogue.Two other attributes of a culture of inquiry are active feedback mechanisms and an individual and collective commitment to success. A systematic process to help the board behave as a high performing board is necessary for a commitment to continuous improvement. The feedback mechanism is ideally at the end of every meeting (how did we perform as a board?) and through consistent feedback by the chair to each board member. An agreed-upon commitment for each board member and the board as a whole must be present in each conversation and meeting.A litmus test to determine if your board has a culture of inquiry is for each board member to agree that:Each board member shows up to the meetings ready to actively discuss the board packet. Understanding and ensuring how resources are allocated: This means receiving regular reports from the CEO on how resources are being allocated to fulfill on the direct set by the board and appropriately challenging and supporting. Each board member actively demonstrates continuous learning by reading, attending webinars/webcasts, and participating in ongoing board certification programs. 15SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Deedee Myers Deedee Myers is founder and CEO of DDJ Myers, Ltd. and co-founder of the Advancing Leadership Institute. For the past 20 years, she has been passionate about establishing and developing … Web: www.ddjmyers.com Details Each board member proactively participates in decision-making. Each board member actively evaluates issues, challenges, and opportunities from all sides before a decision is made. Each board member has mastered the skill of listening, appropriately analyzing issues, and professionally responding as part of our board dynamic. Each board member has and works their own customized board member development plan for the sake of increasing knowledge in the room.Use this simple litmus test at your next board meeting. Answers are simple: YES or NO. Answers that say Sometimes or I don’t know are treated as NO What is your energy level at the end of a board meeting? What are the unspoken comments inside your head as the meeting adjourns? Are they “Glad this is done and what’s for dinner?” Or “Time flew in this meeting – the dialogue was rich?”More boards are reshaping their agendas, board packets, and style of board conversation. They are doing this to move toward being a high-performing board with strategic readiness.Board agendas need to cover three main governance functions:Setting the organization’s directionEnsuring necessary resources are allocatedConducting oversightSounds pretty basic, right? Let’s take it a deeper level with examples.Setting the organization’s direction: This means approving the strategic plan, which is more than an episodic event every fall. Every month, an agenda topic needs to be a dive into questions like how are we fulfilling on our strategic plan? Are we on target? Has the target shifted? What is up for our future that needs our attention now?last_img read more

House passes Perppu on COVID-19 response amid concerns of embezzlement

first_imgUnder the Perppu the central government is allowed to allocate more funds for coronavirus aid in this year’s state budget through a presidential regulation (Perpres), which does not require House approval.The government seeks to disburse Rp 405.1 trillion (US$24.6 billion) for COVID-19 measures, most of which would be allocated to support the economic recovery rather than health care.Finance Minister Sri Mulyani Indrawati said in the plenary session that, in such a critical situation, all countries in the world should take extraordinary measures in accordance with their fiscal capabilities.Read also: Indonesia will emerge out of pandemic highly indebted. Every rupiah counts The House of Representatives has passed an executive order that will expand the government’s authority to allocate emergency coronavirus spending despite mounting public pressure to drop the regulation due to concerns of budget misappropriation and embezzlement.Regulation in Lieu of Law (Perppu) No. 1/2020 allows the government to extend the state budget deficit beyond the normal 3-percent-of-GDP limit and allocate extra spending to the COVID-19 response, while protecting officials from any legal charges as long as they act “in good faith and according to the law”.”Eight political party factions have agreed [to pass the regulation], while one faction, the PKS [Prosperous Justice Party] raised objections,” House Speaker Puan Maharani said at the House’s plenary session on Tuesday. “Countries that are fiscally prudent are now forced to widen their deficits,” Sri Mulyani said, adding that the government would maintain a debt-to-GDP ratio of below 60 percent.Two party factions from the government coalition, the Indonesian Democratic Party of Struggle (PDI-P) and the Gerindra Party, previously voiced objections to the executive order, saying that it infringed the House’s right to deliberate the state budget and gave officials excessive power over the matter.However, both factions eventually agreed to endorse the Perppu in Tuesday’s plenary session following a House budget committee hearing with Sri Mulyani on May 4, in which lawmakers and the government agreed to pass the 2021 and 2022 state budgets through the normal process, not through a Perpres as in the case of the revised 2020 budget.The Perppu, however, has prompted a chorus of criticism from activists and civil society groups lambasting what they deem an absence of government oversight in the regulation that might lead to corruption.The objections revolve particularly around Article 27 of the regulation, which stipulates that the funds spent by the government to counter the economic impacts of the pandemic are considered to be “economic costs” rather than state losses. The article also shields officials responsible for fiscal and monetary policies from any legal charges behind the argument that they have acted in good faith.The Center for Constitutional Law at the Faculty of Law, University of Indonesia (PSHTN FHUI), noted that the regulation had the potential to restore excessive power for the president, citing Article 12 of the Perppu that allows the state budget to be determined through a Perpres.Read also: COVID-19: Govt to allow people under 45 to work outside to prevent more layoffs“Such [provisions] will certainly give the president space to have absolute power in the state budget without the House’s approval” PSHTN FHUI chairman Mustafa Fakhri said.The Constitutional Court is currently reviewing the controversial provisions in the Perppu under a petition filed by a group of anticorruption activists, who argued that Article 27 violated the 1945 Constitution and several prevailing laws, including the 2003 law on state finances and the 2006 law on the Supreme Audit Agency.Boyamin Saiman from the Indonesian Anticorruption Community (MAKI), one of the plaintiffs challenging the Perppu, said they would immediately withdraw their petition from the Constitutional Court and submit a new one to demand that the court scrap Article 27.”We are happy that the House has passed the Perppu into law. Our petition will be more solid, because we are now facing two parties, the government and the House,” he said.Law and Human Rights Minister Yasonna Laoly, however, asserted on Tuesday that the Perppu would not give officials impunity from graft charges if any of them were found to have committed corruption, saying that Article 27 only meant to ensure that the government could make swift decisions during the health crisis.”Corruption at the time of a disaster can be punished with the death sentence,” Yasonna said, citing a provision of the 2001 Corruption Law that stipulates that those committing corruption or self-enrichment that cause state losses during a national disaster may face capital punishment.Topics :last_img read more

Arsenal target Sevilla midfielder Antonio Zarzana as Mikel Arteta’s first signing

first_imgMikel Arteta is set to become Arsenal’s new manager (AMA/Getty Images)Arsenal are targeting a move for Sevilla midfielder Antonio Zarzana and could make him the first signing of Mikel Arteta’s reign, according to reports in Spain.The 17-year-old is yet to make his senior debut for Sevilla but is widely regarded as one of the best young prospects in the country.Real Madrid have already failed in their attempt to sign Zarzana, who turned down a move to Zinedine Zidane’s side.But according to Estadio Deportivo, Arsenal are now one of the front-runners in the race to sign the midfielder from Sevilla.ADVERTISEMENT Comment Metro Sport ReporterThursday 19 Dec 2019 11:55 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link5.9kShares Zarzana has represented Spain at Under-18 level (Instagram)The report also claims that Liverpool and Bayern Munich have already registered their interest and are keeping tabs on Zarzana’s progress.AdvertisementAdvertisementBut the midfielder, who has represented Spain at Under-18 level, has already made it clear that he is keen to make his first-team debut for Sevilla‘I heard that Real Madrid had put an offer in for me last year,’ he told Marca earlier this year.Antonio Zarzana @zar10zana vs. Real Betis JuvenilElectric and unpredictable as always, the 17 year-old once again put on a show, this time in the juvenil derby. pic.twitter.com/digieat2LT— Kevoni (@Sevilla4Life) November 24, 2019 Arsenal target Sevilla midfielder Antonio Zarzana as Mikel Arteta’s first signingcenter_img Advertisement Advertisement More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘But I have always wanted to make my debut with the first team here.‘I just want to take things slowly.‘Everything is going well and I am happy where I am in the youth team, however, if I get the call, obviously I will jump at the chance.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenallast_img read more