What Defines a Good Chairman
The role of a chairperson has become well recognized, and the expectations are consistently growing. A chairman is supposed to be charismatic, involved and does more than attend meetings in the organization. The relationship between the Chairman and the chief executive officer should be good to ensure the success of both of them. Their relationship should be honest, transparent and they should be able to trust one another. For the two parties to work in unison, they need to perceive that they hold contrasting positions in the company.
It is crucial for a good chairman to be familiar with the industry he is working in to ensure maximum efficiency. A good chairman should provoke positive challenges to the directors to improve various areas of the company. Whenever he needs information on particular issues, he should be able to ask the right questions. 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 chairman, however, need to realize that he does not run the organization. He should mainly offer support to the management team.
A chair is required to just put in a few hours if his time to carry out his duties. 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. Like Mr. Hussain al Nowais, an excellent chairman can develop empathy with the business and engage with the people and any ongoing issues. Running the organization, bringing together the senior management team and other members of the organization are what describes an effective chairperson.
In case of a crisis in the organization, a good chairman is able to put the interests of the company first. While tackling the problem, he should always remember the set mission by the organization. A good chair should always be selfless when problems arise until they are well resolved.
A good chairperson knows when and how to step down from an organization. He does not wake up one morning and decide not to carry out his duties anymore. The chair makes sure to effectively communicate with the shareholders and stakeholders about his decision to resign a few months before he leaves. This will allow the company to have enough time to look for a successor. The outgoing chair should take a few days to introduce his successor to the senior member of the company and pass on any relevant information.