Post by account_disabled on Mar 7, 2024 9:11:57 GMT
Good corporate governance is not a panacea for all the problems that SMEs face, but studies have shown that it is an undeniably important ingredient for their success. In contrast, research results consistently show that poor corporate governance practices are directly related to poor business performance, fraud, and catastrophic failures. The implementation of good corporate governance practices helps SMEs face a series of characteristic challenges. Benefit of corporate governance in SMEs: Effective policies, structures and processes help reduce over-reliance on a few “key people.” Companies with solid corporate governance have better access to financing and are seen by investors and banks as more attractive and less risky. Family businesses increase the chances of long-term survival through proactive succession planning and management of the family versus business relationship. Prudent corporate governance reduces risks and improves conflict management between various shareholders and interest groups.
Well-structured management bodies (and later boards) provide critical management, strategic direction and business connections for sustainable growth. Good corporate governance is a common regulatory prerequisite for an IPO (initial public offering). Prudent internal controls help companies improve risk management and create greater resistance to fraud, theft and mismanagement. The complementary component is the cultural British Student Phone Number List of organizations, which is usually long-term. But well, regarding the transition from analog to digital, it is vital for companies to adapt their value propositions to non-face-to-face commercial activity scenarios. Understanding these dynamics helps companies generate new services, with more functionalities, and satisfying more needs. Understanding this situation is what has allowed many SMEs and businesses to survive the most complex times of the pandemic.
Regarding whether it will be a constant that is maintained over time, I believe that much of this will remain with us once the pandemic is completely overcome, and that will be achieved by educating, training, and working with those smaller companies that need guidance in their process. of digitization. – Along these lines, what will be the role of startups in the coming years? Are they key in the necessary “refresh” in large companies? Startups are born from the need to create technological and digital-based solutions, quickly, concretely and with a high level of innovation. Open innovation has helped large companies understand this situation and become increasingly interested in adopting methodologies typical of these smaller, faster and highly effective organizations, seeking spaces to integrate with startups in various models. I definitely believe that startups have a lot to contribute to the ecosystem of large companies, and this is already beginning to be seen with the great interest that topics such as open innovation, corporate venture capital, or lately, the concept of venture studios are generating.
Well-structured management bodies (and later boards) provide critical management, strategic direction and business connections for sustainable growth. Good corporate governance is a common regulatory prerequisite for an IPO (initial public offering). Prudent internal controls help companies improve risk management and create greater resistance to fraud, theft and mismanagement. The complementary component is the cultural British Student Phone Number List of organizations, which is usually long-term. But well, regarding the transition from analog to digital, it is vital for companies to adapt their value propositions to non-face-to-face commercial activity scenarios. Understanding these dynamics helps companies generate new services, with more functionalities, and satisfying more needs. Understanding this situation is what has allowed many SMEs and businesses to survive the most complex times of the pandemic.
Regarding whether it will be a constant that is maintained over time, I believe that much of this will remain with us once the pandemic is completely overcome, and that will be achieved by educating, training, and working with those smaller companies that need guidance in their process. of digitization. – Along these lines, what will be the role of startups in the coming years? Are they key in the necessary “refresh” in large companies? Startups are born from the need to create technological and digital-based solutions, quickly, concretely and with a high level of innovation. Open innovation has helped large companies understand this situation and become increasingly interested in adopting methodologies typical of these smaller, faster and highly effective organizations, seeking spaces to integrate with startups in various models. I definitely believe that startups have a lot to contribute to the ecosystem of large companies, and this is already beginning to be seen with the great interest that topics such as open innovation, corporate venture capital, or lately, the concept of venture studios are generating.