Insights from the 1st episode of Academia de Guvernață: The Role of Good Governance in Business Leadership
The first episode of Academia de Guvernanță explores the fundamentals of governance and its impact on organizational performance. A crucial aspect of this series is the transition from theory to practice in governance. The episode featured Carmen Micu, CEO and Co-founder of Envisia – Board of Elite, and Mr. Radu Hanga, President of the Bucharest Stock Exchange.
In the first episode of Academia de Guvernanță broadcasted on Profit News TV, Carmen-Daniela Micu, CEO and Co-founder of Envisia - Boards of Elite, emphasized the critical role of good governance in both corporate and societal structures. Governance, according to Micu, is not merely about rigid compliance or corporate frameworks; it is a broader concept that has existed for thousands of years, evolving as a necessary structure for the well-being of communities. She noted, "The first code of governance was established almost 4,000 years ago, which set rules for the good governance of a group of people, a city. And all these things have evolved over time. People perceive governance as an attempt to confine things, as a very rigid system, when in fact, good governance and governance as a set of rules for good governance emerged out of necessity, to give that community a better life." Today, good governance is about more than just following rules—it's about adopting a mindset of responsibility that extends beyond business into personal and social life.
Carmen Micu highlighted that effective governance should be seen as a philosophy of leadership, one that starts from the grassroots level and impacts the entire organization or society. This approach calls for leaders who possess not only technical expertise but also a strong moral compass and critical thinking abilities. According to her, the moral profile of a leader is what truly sets them apart, making governance a matter of personal integrity as much as it is about corporate strategy.
Radu Hanga, President of the Bucharest Stock Exchange, also contributed to the discussion, stressing the importance of independent thinking in governance roles. He explained, "Governance appeared before the corporation. We generally use the term corporate governance, somehow anchoring the concept of governance to corporations, whereas the idea of good governance emerged long before corporations. And if we take this into account, we realize that when we talk about governance, it is not necessarily tied to corporations, but to how we organize ourselves as people in all the structures we function in. That's why I prefer to use the term good governance instead of corporate governance, because governance itself, especially in the democratic world we live in, starts from the bottom up; those who lead and the rules we apply in society emanate from society. Society itself and the entities within it must apply them."
He pointed out that fostering a culture of decentralized decision-making, where leaders at all levels are trusted to make informed choices, is crucial for organizational success. This approach, he noted, not only preserves resources but also opens up new opportunities for growth.
Another significant aspect discussed was the role of governance in ensuring the sustainable succession of businesses. As many Romanian entrepreneurs who started their ventures in the 1990s approach retirement, the need for effective governance structures that can facilitate a smooth transition to the next generation has become increasingly urgent. Envisia, through its educational programs and partnerships, plays a pivotal role in preparing business leaders for these challenges, offering courses and certifications that focus on board readiness, leadership skills, and governance best practices.
Academia de Guvernanță is created in collaboration with Profit.ro and Profit News, and is designed to become an essential resource for leaders navigating today’s complex governance ecosystem. The show represents Envisia's commitment to fostering responsible governance across both the private and public sectors. Through expert interviews and real life examples, the series highlights the successes and challenges of good governance, making it an invaluable resource for anyone in a leadership role. The show is moderated by Laura Dragomir, Business Communication Strategist. The whole article about the discussion is here.
Envisia-Boards of Elite is to create a community of highly professional board members who embody ethical conduct and responsibility, thereby adding value to companies and local communities. Envisia is committed to promoting responsible corporate governance and preparing businesses for the rapid pace of contemporary challenges. Through strategic partnerships with prestigious educational institutions and professional associations, both locally and internationally, Envisia aims to be the leading educational hub in Central and Eastern Europe for the professionalization of board members. Its programs are designed not only to enhance the professional capabilities of individuals but also to contribute to the long-term economic and social development of the region.
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