What Defines a Good Chairman
The duties of a chairman have increased in the recent times as well as the expectations. A chairman is supposed to be charismatic, involved and does more than attend meetings in the organization. For a chairman to be effective in his duties, he should have a good relationship with all the directors. These two offices should be able to have confidence in each other through means such as open conversations. For the two parties to work in unison, they need to perceive that they hold contrasting positions in the company.
For a chairman to be effective, he should have good knowledge about the business he is in. Constructive criticism should be offered by Chairman to the shareholders and stakeholders. Additionally, he should know how and when to ask the right questions whenever there is a problem or he needs information. 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. This is because he does not have too many roles within the organization. When the chairman is in the business premises, he can interact with the customers, investor or workers to see how business is running as Mr. Hussain al Nowais does. Like Mr. Hussain al Nowais, an excellent chairman can develop empathy with the business and engage with the people and any ongoing issues. 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 of a crisis in the organization, a good chairman is able to put the interests of the company first. While tackling the problem, he should always remember the set mission by the organization. A good chair should always be selfless when problems arise until they are well resolved.
When a chair is ready to step down, he should always know how to do it and when. He does not wake up one morning and decide not to carry out his duties anymore. The chair makes sure to effectively communicate with the shareholders and stakeholders about his decision to resign a few months before he leaves. This gives the organization to start looking for a replacement. The outgoing chairperson gets an opportunity to hand over his roles to his successor.