The training course covers the following areas:
Module One: Introduction to Corporate Governance
This includes the concept of corporate governance, forces driving corporate governance, aim, rationale and research in corporate governance. The module also covers why corporate governance is important as well as conceptualization of corporate governance as an inclusive study/approach.
Module Two: Principles and Practices of Corporate Governance
This involves a discussion of the principles of corporate governance, that is, Authority and Duties of Members/Shareholders, Recognition and Protection of the Rights and Obligations of the Members, Leadership, Appointments to the Board, Strategy and Values, Structure and Organization, Corporate Performance, Viability and Financial Sustainability, Accountability to Members, Responsibility to Stakeholders, Balance of Powers, Internal Control Procedures, Assessment of Performance of the Board of Directors, Induction and Development of the Board, Appointment and Development of Executive Management, Adoption of Technology and Skills, Management of Corporate Risks, Corporate Culture, Social and Environmental Responsibility, Recognition and Utilization of Professional Skills, Corporate Compliance, Corporate Communication and Corporate Governance Reporting.
Module Three: The Role and Functions of the Board
The first section on this module looks at Roles and Functions of the Board. This covers the mission of the Board, Board Values, Performance Functions and Conformance Functions. This is followed by a discussion on the Role of the Chairman and the CEO. A major distinction is made between the roles of the Chairman and the CEO. The next part of the module looks at board composition, training, development and succession plans within the Board. The last part of the module draws the major distinction between governance and management.
Module Four: Board Dynamics and The concept of Groupthink
This module looks at the important areas of Board Dynamics and Groupthink which includes symptoms of groupthink, improving group decision making and a role play on groupthink, techniques of making the Board more effective such as Board Work plans, Board Charters, Board Manuals, Board Committees, Conduct of Board Meetings, Board Agenda, Board Papers and Board Evaluation. The last part of this module highlights the major qualities of an effective Board.
Module Five: The Local Operating Environment
The module looks at the local environment where the participants are going to be operating. It examines the Political, Social, Economic and Technological factors which impact on the decision to invest. It equips the participants with the skills to be able to apply the principles in the local setting.
Module Six: Business Strategy
This module deals with Getting the Board to Think and Act Strategically that embraces the challenges of the 21st Century Board, the definition of strategy, why strategic thinking, the distinction between management and governance, strategic analysis, strategic direction, values, vision and mission, environmental analysis, resistance to change, successful change management and strategic evaluation.
Module Seven: The Board and Human Resources
This module deals with the basic principles of human resources management, human resources planning steps, achieving success in a corporation through human resources, the role of the board in motivation of human resources, the 4Es of leadership, maintaining motivation and job satisfaction among employees. The final part of this module deals with the employees’ benefits schemes.
Module Eight: Corporate Governance and the Law
This module looks at “Why the Duties and Liabilities of Directors”, Nature of Duties of Directors, the distinction between Executive, Non-Executive and Independent Directors, Legal Duties and Liabilities of Directors and Managing Conflicts of Interests.
This is followed by a section on the statutory, contractual and common law duties of directors, and the penalties that directors may face.
Module Nine: Corporate Social Responsibility
This module is based on the theme ‘‘Challenging the corporate paradigm for a just and sustainable economy’’. It portrays a shift from the traditional approach, which viewed CSR as mere acts of charity to CSR to a more responsive CSR policy aimed at ensuring fairness in business dealings for the common good. It includes definition of Corporate Social Responsibility, the business in society, the meaning of corporate social responsibility, CSR models, property centered corporations and life centered corporations, ethic scandals, both local and global, language of business Vs language of life, and transformation concerns.
Module Ten: Appreciating Financial Reports
This module discusses the basic accounting standards, accounting concepts, the balance sheet, cash flow statements, trial balance, profit and loss accounts, budgeting, assessing company performance through key performance indicators and non-financial key performance indicators, financing an organization and risk management.
Module Eleven: Risk Management
This covers the elements that a director needs to know about risk facing the organization including – what risk is; the role of the Board and the risk management process.
Module Twelve: Information & Communication Technology
The module covers the following: Does ICT drive the business? Is ICT a source of competitive advantage? Does ICT drive costs down? How much ICT do directors need? And what risks do directors face in ICT? The module provides insights to the above questions.
Module Thirteen: The Role of the Parastatal Monitoring Unit
PMU is the Public Enterprise (PE) Monitoring arm of MoFPED. Its main objective is to improve the performance and efficiency of all PEs. The module covers the definition of PE, PMUs Objectives, compliance requirements, issues & challenges and the way forward.