Emphasis on Not for Profits in Current Economic Climate
1 May 2012 at 4:45 pm
Not for Profits will be more responsible than the For Profit sector in this economic climate, according to corporate governance expert Leith Boully who was speaking at the Commonwealth Bank’s ‘Building a Sustainable Future for the Third Sector’ Conference in Brisbane.
Boully told the conference that corporate governance is about how we engage in leadership. She pointed out that the world in which we operate is uncertain and ambiguous and we need to come up with better ways to think and behave.
“The definition of corporate governance is the way we choose to do things; the way people work together and make decisions; and the way people relate and behave,” said Boully.
“People run organisations, rules and regulations don’t.”
“Leaders ask the right questions about strategy and make sure that the right answers are implemented.
“Leadership is about vision and having the courage to do the right thing, which is different from management, which is all about doing the right thing, even if there is a risk,” said Boully.
Boully said that one of the great challenges for the Not for Profit sector was to get skilled people on their boards, as many NFP board members are volunteers.
She said that of all the Boards she has served on, the two most dysfunctional were Not for Profits.
“Volunteers can man a skills-based board, but we need to source skills at the governance level,” she said.
Boully has developed her skills and passion for assisting people to perform at their best through a diverse career spanning the public, private and Not for Profit sectors.
Leith Boully is an expert in facilitation, coaching and leadership development and a company director. Her industry experience spans water distribution and infrastructure, the media and broadcasting, research, agriculture, training and development, education and many high level committees including Ministerial Advisory Committees at state and national levels.