The Key Elements of Great Businesses

What Defines a Good Chairman

The role of the chairman has become high in profile and the expectations multiplied over time. A chairman is supposed to be charismatic, involved and does more than attend meetings in the organization. The success of a Chairman like Hussain al Nowais depends on how good his relationship with the chief executive is. Their relationship should be honest, transparent and they should be able to trust one another. They both need to recognize that they have different duties for them to work harmoniously.

For a chairman to be effective, he should have good knowledge about the business he is in. A good chairman should provoke positive challenges to the directors to improve various areas of the company. Moreover, the chairman should always ask relevant questions regarding various issues in the company. A good chairperson is always aware of the long-term vision 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. He should not be involved in too much of the organization’s work either. From time to time, he can walk around the organization and see how the employees are progressing and enquire about any challenges they may be facing. An experienced chairman should be able to understand other people’s feelings and also the company. The ability to run an effective board and make sure there is a good relationship between the shareholders and stakeholders is what defines a good chairman.

In case there is a big issue in the company, the chair should be able to dedicate his time to trying to solve it. He should be able to think about the long-term goal of the organization while bearing in mind the mission of the organization. He should be able to set aside his interests for the benefit of the organization; which includes helping to solve any of the problems around.

When a chair is ready to step down, he should always know how to do it and when. He does not step down abruptly without any previous warning. 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.