The COVID-19 pandemic — and the short-term-focused crisis mode it demanded — is making extraordinary demands on business leaders. Add to this the recession predicted to follow, alongside the growing societal push for stricter requirements and legal accountability, and the board members of 2020 find themselves having to navigate decision-making in what would be troubled times by any historical standard.
Decision-making around stakeholders and balancing short and long term is precisely what Section 172 of the UK Companies Act covers. In this guide, you will find more on what this piece of legislation means for boards and individual directors, what both the regulator and the public expect, as well as the mindset and toolset needed to discharge your duties and evidence it.
The guide asks if your board has got the right mindset and toolset to comply with both the spirit and the letter of S172? It includes 4 recommendations on how to incorporate broader stakeholder governance and also become more future focussed. The areas covered are:
- Balance your agendas, and ensure they remain that way
- Measure time spent on stakeholder-related conversations
- Add stakeholders to your dashboard
- Consider stakeholder groups at every stage
To obtain a copy of the guide click the Download button above.