The role of directors is to add value (through the four pillars).  Recently, the Directors Inc. team explored this concept in conversation with one of New Zealand’s most experienced and successful directors, Neil Richardson.  Neil is, among many things, a Fellow of the Institute of Directors).

 

In relation to the topic of value, we picked up on a few pearls of wisdom:

  • The role of a director is to add value – too many directors have learnt how to defend but not how to attack
  • In start ups, you don’t need the best product, but a competitive product
  • Ensure you create new value
  • Understand context
  • Understand the role you need to play to create success
  • Governance is leadership process to ensure the business is set up to be a success
  • Governance facilitates creative productive relationships and supports the development of fast moving teams
  • Governance becomes visible (intrudes) when company goes off course – whilst company is on course governance is separate from management – when things go awry there is no difference

 

Erica Amon