The Definition of a Good Chairman
The role of a chairperson has become well recognized, and the expectations are consistently growing. Stakeholders expect to have an engaged, energetic Chairman who does more than managing corporate governance. 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. The two parties have to understand that they have different roles for them to work together successfully.
A chairman like Mr. Hussain al Nowais is effective in what he does since he fully understands what his job entails. A good chairman should provoke positive challenges to the directors to improve various areas of the company. Moreover, the chairman should always ask relevant questions regarding various issues in the company. For a good chair to know the progress of the company, he should be accustomed to the mission and goals of the company. Offering guidance is a major role of the chair and finding new ways to purchase important resources for the company. The position of the chairman does not allow him to run the company and he should be able to recognize that. His main role is to reinforce the directors and other senior officials.
A chairman, however, should make sure that he devotes just the right amount of time to the roles he is supposed to take care of. This is because he does not have too many roles within the organization. When the chairman is in the business premises, he can interact with the customers, investor or workers to see how business is running as Mr. Hussain al Nowais does. A chairman is able to figure out what problems the company could be facing at all times. 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. He should be able to think about the long-term goal of the organization while bearing in mind the mission of 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.
A good chairperson knows when and how to step down from an organization. He suddenly does not step down from his position without any warning. The chair makes sure to effectively communicate with the shareholders and stakeholders about his decision to resign a few months before he leaves. This gives the organization to start looking for a replacement. The outgoing chairperson gets an opportunity to hand over his roles to his successor.