Some organisations, particularly small ones, come across situations which they have not experienced before or which may simply be beyond the skill set contained within the organisation. Management can learn or acquire the necessary skill set, but resourcing or time may not permit it. Often all that is required is a helping hand or some guidance to help along the way.
Why is it important to the Board?
The Board is ultimately responsible for ensuring the organisation can manage its business and deliver on the strategic direction. If the organisation cannot perform or manage the situation then owners and stakeholders will first look to the Board in relation to that failure. In small entities, in these types of situations, Directors are often called on to assist with these shortfalls which then impacts on the separation from and independence of the Board from Management. If Management is not capable of dealing with a critical situation, the performance of the organisation can be severely impaired. This can come about through loss of key management at a critical time or simply the available resources are not there.
What is in it for you?
An ability to call on experienced professionals to help plug these gaps on an ad hoc and as needs basis, thus adding to the effective strength of the overall management of the organisation. This can even be done to deal with a tough decision or situation through the use of an independent person and so preserve the relationship between the Board and its key staff.
How do we do it?
We assess the need and the skill set and experience required. Then our resource, liaising with the Board, implements the required action to deal with the situation. In the case of just providing a guiding hand, our resource works with the Board or Management as required, providing that guidance drawing from the experience and diversity of The Walton Group.