Dear members,
As 2020 draws to a close, at GCC BDI we have been taking time to reflect on what has, by any estimation, been an extraordinary year for everybody. As the pandemic continues to impact us all, we hope as ever that you and your families remain safe and well.
Over the past year GCC BDI has had to rapidly adopt new ways of doing things, as all businesses have done. Reflecting back on our progress, I am proud that the institute was able to adapt so quickly and so successfully to the changing circumstances. Our online programmes, in particular, have been hugely successful - we have no doubt that these will remain a permanent part of our offering even in the post-pandemic world.
Membership
I am delighted to report that over the last 12 months we have increased our membership by over 25%, reaching 2000 members just last week. This is a significant milestone for the institute and one which we are delighted to have achieved.
As many of you are aware, we have worked hard this year to enhance our membership benefits and will continue to do so in 2021. Most recently, we launched our Mentorship Programme. This aims to encourage a learning culture, whereby Mentees can learn from more experienced board directors, enabling them to take ownership of their personal and professional development and improve their leadership skills. To find out more about the programme please click here. The deadline has passed for applications to the upcoming programme, which will run for the first half of 2021, but in future we hope to make this a regular programme from which a larger number of our members can benefit.
The year ahead
We are now looking forward to an even busier year in 2021, with over 34 open workshops already scheduled and numerous other events and programmes in the pipeline. This includes a large number of open workshops as part of our certification programmes, which continue to go from strength to strength.
At the time of writing, we have over 118 participants enrolled on our Certified Director Programme, of which 42 are already certified directors. We also have 48 participants enrolled on our Certified Board Secretary Programme, of which 15 have received certified board secretary status. We are immensely proud of all our graduates for all their hard work and are grateful to The Financial Academy for their support in partnering with us on these programmes.
Our first webinar will focus on Digitalisation and its Impact on Strategy and Risk and will be held on 13 January 2021 in collaboration with The Financial Academy. The panel discussion will look into digitalisation from a strategic perspective and what companies can expect as they move towards a more digital era. To find out more and register, please click here.
On 21 January 2021 we will also be hosting our first Virtual Study Trip to Germany, where we will provide our members with insights into the German regulatory framework, the practical aspects of sitting on a board of a German company, and how business is conducted in Germany. This virtual study trip will be filled with engaging and insightful panel discussions, keynote speakers and networking opportunities. To find out more and register, please click here.
Board Dynamics and Culture
This issue of the newsletter is dedicated to ‘Board Dynamics and Culture’. The board is the ultimate custodian of corporate culture in an organisation and has a responsibility to set the appropriate tone from the top.
Professor Deon Rossouw shares his thoughts here on the importance of an ethical culture and discusses how it has become much more pronounced in recent years. We also welcome an article from McKinsey & Company here covering building board–management dynamics to withstand a crisis, as well as a discussion from PwC here on why boards need to know their company’s culture.
The way in which boards interact can also be critical to a company’s success and in this issue Taha El Kuwaiz, Chairman of Derayah Financial Company, provides his perspective here on the importance of board dynamics and how the chair can effectively manage conflict in the boardroom.
Board evaluations
Improving the effectiveness of the board is a priority for leading organisations everywhere. A board evaluation creates a comprehensive picture of board performance and serves as a platform to engage board members in the creation of a board improvement plan. In an article by Nasdaq found here, they explore what board evaluation trends are discernible and what this may mean for governance professionals. In addition, they also discuss the purpose of a board evaluation and what outcomes stakeholders want.
If you are interested in holding a board evaluation yourself, please do get in touch with us at getinvolved@gccbdi.org.
Team news
We have also recently expanded our team and are delighted to welcome Shruti Sardesai as our new Progamme Manager. Shruti has already proven to be a very valuable addition to GCC BDI.
Finally, I would like to take this opportunity to thank you all for your support over the year, for which we are very grateful.
As well as our members, I would like to give particular thanks to our founders, corporate affiliates and partners, whose unwavering support towards achieving our mission has been appreciated more than ever during the challenging conditions of 2020.
We hope you all enjoy this year’s final edition of Al Majlis and I would like to take this opportunity to wish you and your families a very healthy, happy and successful 2021.
With all our very best wishes,
Jane and the GCC BDI team