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Accra, Nov. 25, GNA \u2013 The Institute of Directors Ghana (IoD-Gh) has asked State Enterprises to have board charters to \u201cguide the behaviour and regulate\u201d activities of board of directors.\u00a0<\/p>\n
The Institute said whiles SOEs monitored and evaluated key performance indicators on annual performance contract for specified entities and brought innovation and creativity in business strategy, it was important that they were guided by charters.<\/p>\n
This was contained in a communique issued by the Institute at the end of it\u2019s Directors\u2019 Conference on the theme: \u201cGood Corporate Governance and Effective Stakeholder Engagement: Critical Ingredients for sustainable growth\u201d.\u00a0<\/p>\n
According to the Institute, board composition and culture should\u00a0\u00a0be a strategy to enhance sustainable performance.<\/p>\n
That way, it\u00a0\u00a0stressed that management\u2019s\u00a0\u00a0commitment to the strategic direction of the board would result in the development of appropriate policies aimed at rebranding the corporate image for better visibility, staff motivation, and operational efficiency.<\/p>\n
\u201cThere is a need to build stronger institutions of good governance in Ghana and develop the appropriate performance architecture to enhance\u00a0\u00a0performance,\u201d the communique added.<\/p>\n
It encouraged board members, including politically connected directors to obtain Board of Directors\u2019 Certification for \u201crelevant\u201d mandatory Continuous Professional Development.<\/p>\n
IoD-Gh held the maiden Directors\u2019 Week Celebration in 2018 as an annual event to bring directors and members of the Institute together to build capacity, network and share ideas on how to promote good governance and professionalism in their various spheres of influence in Ghana.<\/p>\n
GNA<\/p>\n