I have been invited to write the editorial for this publication focused on the topic of Corporate Governance. It is worth noting how crucial it is for our organizations to have a strong corporate identity that allows decision-making based on norms and best practices for the management, administration, and control of a company.
For this, it is essential to structure and define roles and clear execution rules, fostering a culture of compliance, ethics, and discipline.
This organization contributes to achieving business objectives as well as competitiveness, sustainability, and value generation.
It is also important to consider that the clear establishment of Corporate Governance requires some best practices to maintain it, including:
Establishing policies, manuals, roles, and responsibilities for the operation of the company that allow sound decision-making and a harmonious relationship among shareholders, owners, employees, the board of directors, and the environment, as well as the sustainability of the company. This will also enable balanced decision-making and better management of the situations the company faces in its operating context.
Having adequate strategic planning that allows the definition of short, medium, and long-term strategic plans, with constant monitoring, enabling the achievement of goals and providing a clear picture of where the company is heading.
In the case of family businesses, it is necessary to define and have the appropriate professional roles. While the family oversees the management of the company, having specialized technical knowledge is crucial for achieving business growth.
Having very clear corporate values or principles, as they are the basis for decision-making and should govern the behavior of everyone in the company.
In conclusion, a well-structured corporate governance is a guarantee that things are done correctly from the beginning. Its monitoring, control, and achievement of objectives are evidence of this.
LIBARDO VALLEJO CEBALLOS