SHAKING THE FOUNDATIONS OF GOVERNANCE - OWNERSHIP
A Discussion Forum hosted by the UK Policy Governance Association and the CRSA Forum
Supported by Mazars LLP
1 November 2016
Cost: £125 + VAT
Venue: Mazars LLP, Tower Bridge House St Katharine's Way London E1W 1DD
A one-day seminar for anyone with an interest in better governance and better organisations.
The concept of ownership should be a foundation of governance but what once seemed like solid ground is now shifting. As we reflect on the governance of organisations over the last 10 years some fundamental questions arise. The UK Policy Governance Association and the CRSA Forum are hosting a series of seminars to address these questions, satisfactory answers to which are vital to society and businesses and organizations trying to get things done. In this first seminar on foundational topics, we will consider the question:
"Ownership: From whom does the organisation take its authority and to whom does it owe accountability?"
Recent cases of organisational mis-behaviour involving excessive risk taking, unethical practices, false accounting, spiralling executive remuneration, tax avoidance, environmental damage and unfair treatment of employees and their pension rights suggest that large corporations are effectively ownerless and unaccountable. Ownership is an equally important issue in other sectors. With the boards of many charities being accountable to no one other than the law, with the range of available corporate vehicles continuing to expand and with public services being increasingly delivered through a mesh of non-profit and for-profit organisations, it is hard to know who is accountable for what let alone to determine if they are being well governed.
Ownership as a foundation seems as clear and as firm as mud which means that governance, and organisations themselves, are indeed shaking. Come and join this event and be part of the rebuilding process.
10.00 WELCOME & INTRODUCTION: Prof. Paul Moxey, Chairman of the CRSA Forum and Visiting Professor of Corporate Governance at London South Bank University.
10.20 THE MEANING OF OWNERSHIP: Katarina Sikavica, Head of Customer Success at Sherpany, Zurich and Affiliated Researcher, Department of Business Administration Chair of Organization and Management, University of Zurich.
The concept of “organisational ownership” means different things to different people. The session will discuss the various dimensions of the organisational ownership such as legal ownership, financial ownership, and psychological ownership. We will reflect on how each of these carries different behavioural expectations when it comes to organisational owners and how behaviour by organisational owners is judged differently depending on whether we perceive them as legal, financial or psychological owners.
We will also consider ownership heterogeneity within the publicly listed firm and see how different owners exist that display different investment horizons, preferences and behaviours vis-à-vis the firm.
11.20 COFFEE BREAK
11:40 WHAT IS AN ORGANISATION? : Richard Tudway, Author of The Looming Corporate Calamity.
Richard will address how and why organisations like limited liability companies came to be treated in law as “persons”, the implications of this and how those implications influence the culture and behaviour of companies today when compared with other types of legal entity such as partnerships and other associative undertakings. What does it mean in practice to say that directors are obliged to act “in the best interests of the corporation”?Given these insights, what can be done to improve the effectiveness of board governance?
OWNERSHIP - FIT FOR THE FUTURE? : Dick Baker, Director Caerus Consulting.
Dick will explore ‘ownership’ and shareholder primacy and the implications for the future of the company. That shareholders are the owners seems for many an established fact which has led to a short-term view that it seems is not serving organisations or society at large. As the shareholder value mantra is being questioned is it time to look at the ideas of ownership and with it the corporate form itself? As new ways of structuring enterprises emerge how do we encourage greater consideration of purpose, ownership and accountability?
12.30 PANEL DISCUSSION: with Richard Tudway, Dick Baker and Anthony Carey, Head of Board Practice Mazars LLP
2.00 GREAT IDEAS: GOVERNANCE ROUNDTABLE DISCUSSIONS: Susan Rogers, President - Rogers Leadership Consulting.
In this facilitated discussion seminar participants will consider the key issues arising from the morning sessions.
3:00 TEA BREAK
3:20 DISTINGUISHING GOVERNANCE: Caroline Oliver, Chair of the UK Policy Governance Association.
This session will make the case for distinguishing governance as a unique discipline and suggest that governance is best understood as “ownership one step down, not management one step up”. Caroline will also look at the location of the position of the board from an ethical and practical perspective and examine the meaning of accountability. Finally she will question whether the future of governance lies in taking a more systematic approach than we typically do today.
3:50 STABILISING THE FOUNDATION OF GOVERNANCE: Panel discussion with all the presenters
4:30 SUMMING UP AND FUTURE SEMINARS: Caroline Oliver and Paul Moxey
4.45 A NEW ISO STANDARD IN ORGANISATIONAL GOVERNANCE: Howard Shaw, Director - Head of Anti-Corruption & Whistleblowing Services, Mazars LLP
5.00 Seminar closes - to be followed by networking and drinks reception
Nearest underground station Tower Hill. Mazars is close to the junction of Tower Bridge Road and E Smithfield