“The great leaders are like the best conductors – they reach beyond the notes to reach the magic in the players.” – Blaine Lee
It is not hard to understand why some of the best leaders in business today do not stand out. This statement might not seem correct, but let’s think about it. In the past, we had brilliant individual leadership figures that always managed to bring the magic in a culture that was founded around strong role models. We relied on these leaders to provide the way forward. The world and business environment are looking very different today. We are gravitating toward a culture where the best teams function as a collective entity and, depending on the project, we see various strong leaders in an executive team standing out from time to time. We are thus surrounding ourselves with empowered professionals who are working just as hard to build a business that is bigger than the sum of its parts. Good leadership is measured in the success we achieve through people, not just individual brilliance anymore.
This principle has never been more relevant than it is for the South African business environment today. The new companies act has made it clear that any person in a company that holds influence over stakeholders by the decisions they make will become liable for those decisions. Every person that fits this bill is now referred to as a Prescribed Officer and faces the same consequences as a company director. This is not just an interesting turn of events, it is downright scary. This means that any director, manager or supervisor in a business can be brought to task over the decisions that they make and they are most probably not even aware of this fact. In fact, most managers are so blissfully unaware that they have never even attempted to learn more about the rules of governance in this regard. The problem, however, is that they cannot even get away with a mistake by claiming that they were unaware of this new legislation. Ignorance is not bliss in this case.
As business owners, it is our responsibility to ensure that our team is aware of the risks they face when making decisions that can impact others in and around the business.
We would like to help you empower the people in your company to become informed Prescribed Officers and we might even teach you a thing or two.
We are therefore running a special offer on all entries for our Director/Prescribed Officer training during the months of March, April and May. All entries via our website will be able to attend the training during these three months for R1500 per person. This represents a saving of 12%. Furthermore, if you book for more than five delegates, you will receive a further discount of 5 per cent per person. Book now
Some of what you will learn:
- What are the new laws all about
- Your duties and liabilities as a company Director / Prescribed Officer
- Ways in which Prescribed Officers can be held liable
- The rights of shareholders and conflict of interest
- “Solvency & liquidity” and when to apply these principles
- What “Public interest score” is all about
- How to change your company Articles to a new MOI
Term and conditions apply.
Refer to our website www.cstgovernance.com for more information.
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