Mills Oakley hosted a recent seminar on How NFP Governance is changing in Australia. We have included a recording of the seminar, however have also listed some key take aways below;
Key Changes in Governance
- The growing importance of organizational culture;
- The shift to customer -centricity
- The need to consider other stakeholders’interests
- Increasing risks to organisations’ cybersecurity (see TAS early article on Cyber Security)
- The need for organisations to adapt to climate change.
- Strategy should play a central role in adapting to these key changes in NFP governance.
- Board’s role in strategizing will not only be expected, but is moving towards becoming a quasi legal duty of directors.
- The scope of governance is steadily increasing and changes are happening in every aspect of governance.
- Effective, holistic governances starts with ensuring that there are strategies for strengthening the organization at its core – the board
- Any strategy that the board implements should consider its consequential effects on the other aspects of governance