Brad Sherringham Managing Director of the newly formed Global Governance Initiative suggests recent widespread business failures in Australia and New Zealand has highlighted skills gaps within our business leaders.
According to Sherrington, more than 90 per cent of business leaders in Australia and New Zealand are untrained in corporate governance, meaning they often lack the knowledge and confidence they need to govern well for the good of the business and its stakeholders.
To address the issue, Sherringham has launched theGlobal Governance Initiative to provide business leaders with the skills they need to head up a business. He claims a governance knowledge gap at the top of many organisations has flow-on impacts for entire businesses and the communities they serve.
“We’ve seen so many examples in recent years of governance failures – from ethical and systemic problems in big banks to structural problems in small-medium family companies,” he said. “Currently, more than 90 per cent of directors and executives have had no governance training, with many citing time and cost as barriers. It’s vital that they are supported to get the skills and confidence they need to govern well if they are going to lead their organisations successfully into the future.”
To address this skills gap, Global Governance Initiative is now providing participants in its online governance training program the opportunity to earn credentials in Driving strategic results, Financial acumen and Professional ethics as part of a Governance Practice credential suite.
Sherringham claims that practical, outcome-focused training is vital in the current environment where many business owners and leaders are feeling uncertain of their obligations and how to navigate forward.
“While most business owners, directors and executives don’t necessarily have time or the need for a full degree or MBA, many want the knowledge and confidence that a professionally recognised credential brings,” he said. “It’s all about ensuring business leaders are supported with the tools they need to act with integrity and knowledge for the greater good.”