Creating and Sustaining a Governance Culture
In a consolidation environment, branding and governance take on an enhanced perspective. Establishing and managing governance structure is critical to a financial brand. When two cultures merge, governance platforms can become unclear, standards blurred. When there are many competing demands on time, it is critical to keep governance prioritized and communicated. The role of brand in a governance culture is key externally as well; how clients and regulators perceive the organization is directly impacted by how its constituents deliver on and communicate their role in the governance mission.

A 2003 global study of 1000 of the largest manufacturing and 500 of the largest service companies*, of which 45% of respondents were officers of their companies, revealed that less than 20% felt that the top financial institutions had a corporate governance system that ensured the interest of shareholders, employees and other stakeholders; less than 13% felt that these companies established and demanded high standards of ethical business practice.

The above paragraph has been on the Black Label website since 2004.

Clearly, the cracks in the system that precursed the financial crash of 2009 were already forming—but were not prioritized. Branding and communications are often the last stop for governance, when, in fact, they should be intrinsically and transparently linked to all aspects of strategic operations. Brand stewardship involves a constant monitoring of ever-evolving internal and external dynamics, both quantitatively and qualitatively. Issues often emerge here first. There is never been a more vital need for vigilant, transparent governance stewardship that not only resides at the highest management levels operationally, but is organically embedded throughout the organization. This can only happen with the support of critical brand stewardship and strategic communications.

Defining and measuring success

  1. How can many governance touch points be aligned to reflect one point of view?
  2. How can governance be hardwired into the corporate culture?
  3. How do you build a solid governance platform that can be tailored to the culture, region and jurisdiction of the various operating units?
  4. How can you create and communicate a governance brand, delivered by a governance culture?

* by Strategic Strategies Corp and Roper ASW

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