Qualities That Define a Good Chairman
The duties of a chairman have increased in the recent times as well as the expectations. Shareholders and directors require to have a chairman that is passionate about his job on governance of the company and also very active in his roles. For a chairman to be effective in his duties, he should have a good relationship with all the directors. These two offices should be able to have confidence in each other through means such as open conversations. They both need to recognize that they have different duties for them to work harmoniously.
It is crucial for a good chairman to be familiar with the industry he is working in to ensure maximum efficiency. He should be able to provide a constructive level of challenge to the senior management team. Additionally, he should know how and when to ask the right questions whenever there is a problem or he needs information. A good chair needs to know the mission of the board and how to measure the progress of the company. Offering guidance is a major role of the chair and finding new ways to purchase important resources for the company. The chairman, however, need to realize that he does not run the organization. His main role is to reinforce the directors and other senior officials.
A chairman does not have to spend all his time in the organization as his roles are not demanding. This is because he does not have too many roles within the organization. However, he should interact with the staff, customers, and investors from time to time. An experienced chairman should be able to understand other people’s feelings and also the company. The ability to run an effective board and make sure there is a good relationship between the shareholders and stakeholders is what defines a good chairman.
If the company runs in a crisis, the chair is supposed to intervene quickly and offer necessary guidance on how to deal with the menace. He should be able to think about the long-term goal of the organization while bearing in mind the mission of the organization. To solve any problems within the organization, he should be willing to give in a lot of his time until everything is aligned for example Mr. Hussain al Nowais.
A great chairman should follow the right procedure when he is ready to resign from his duty. He suddenly does not step down from his position without any warning. The chair makes sure to effectively communicate with the shareholders and stakeholders about his decision to resign a few months before he leaves. The company there is able to get adequate time to search for someone else to fill in that position. Also, the resigning chairperson gets to meet the new chairman like Hussain al Nowais and gets to introduce him to major team players within the organization.
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