A Simple Plan: Businesses

Qualities That Define a Good Chairman

The role of the chairman has become high in profile and the expectations multiplied over time. 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. The two should be practice candor and transparency for them to be able to rely on each other. For the two parties to work in unison, they need to perceive that they hold contrasting positions in the company.

It is crucial for a good chairman to be familiar with the industry he is working in to ensure maximum efficiency. Constructive criticism should be offered by Chairman to the shareholders and stakeholders. Additionally, he should know how and when to ask the right questions whenever there is a problem or he needs information. For a good chair to know the progress of the company, he should be accustomed to the mission and goals of the company. While still helping the organization by offering guidance, he should be able to acquire resources that would be of use within the organization. It would be very disappointing if the chairman does not realize that it is not his job to run the business but to ensure that it is running well. He should mainly offer support to the management team.

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. From time to time, he can walk around the organization and see how the employees are progressing and enquire about any challenges they may be facing. An experienced chairman should be able to understand other people’s feelings and also the company. A great chairman is defined by the ability to unite the directors and shareholders of that particular organization.

In case of a crisis in the organization, a good chairman is able to put the interests of the company first. While tackling the problem, he should always remember the set mission by the organization. He should be able to set aside his interests for the benefit of the organization; which includes helping to solve any of the problems around.

When a chair is ready to step down, he should always know how to do it and when. He suddenly does not step down from his position without any warning. He is careful enough to hand in his resignation letter and inform the management team at least six months earlier. This will allow the company to have enough time to look for a successor. 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.

Another Source: internet