Newstar Marine & Scooter-Growing a Fami

The webinar is talking about organizational governance, specifically the role of policies and procedures. The speaker James Graham mainly talks about how the wishes of the owners are communicated by the board, good practices in the organization, the role of policies guide all levels in an organization, the importance of business rule and the role of the procedure.

First, the board of directors communicates the wishes of the Owners by allocating the responsibility and accountability, then delivering to CEO who is responsible to set strategy, policies, procedures, also process to guide the short-term actions. The policy is intentions of what the organization wants to do and high-level instructions with a guideline. As implementing policy, most organization create a policy that links serious procedures which need people work together to create a more detail guidance on how to handle a certain situation that may arise. Then, employees are responsible to set targets and implement the whole procedure.

Second, some good practices in organization governance are mentioned. to be specific, to ensure organization structure is appropriate. For example, Chairman mainly deal with a strategy that meeting long-term method. However, CEO deal with short-term of execution. Another practice is an ethical approach where whole procedure needs to be transparent and people are accountable to follow the policies to make right decisions. what's more, build a stakeholder-driven model to decide how to handle certain situations. Besides, clear strategic management process also as a good practice that identifying the policies and procedures needed to be created or amended depending on decisions. Also, set objectives in line with strategy, as well as, transparent, accurate and timely reporting so that people know what's going on and everything is truly transparent for the whole procedure.

Third, the role of policies which provide strategic alignment, decision parameters, alternative courses of action and business rules to decision makers. To be specific, strategic alignment is to make sure employee in the organization are making a right choice, not wrong choices. Decision parameters illustrate when under a certain situation what option available to people so that help them to do the right things. Alternative courses of action explained that policies help people to choose what to do. For example, people can choose either get a partial refund or full credit for new fly in the future when they unwilling to fly on a certain day. Business rules are important for people to understand what is allowed and not allowed. Besides, the role of policies that increase the consistency of decisions and help reduce risks of bad decisions.