Leadership & Governance: Frequently Asked Questions

1.What is a leader’s role in strategy development?

  • Developing a Strategic Vision and Mission
  • Setting Goals and Objectives
  • Crafting a Strategy
  • Executing the Strategy
  • Evaluating Performance

2.What are the four steps to an effective strategic plan Implementation?

  • Develop strategic initiatives.
  • Assign accountability
  • Building strategic project charters
  • Monitor and communicate progress

3.What is normally regarded as a well constituted Board as per the Mwongozo Code of governance?

 

  • The composition and size of the board should provide diversity of gender, Competencies and Skills required for the effective leadership of the Organisation.

4.How can the Board of Directors ensure that appropriate procedures are followed within the Company?

  • Ensure there is an internal Audit function that provides assurance that a company’s policies and processes are appropriate and are being followed in the everyday course of the business. Also ensure that the Internal Audit function is independent from the Companies Management.

5.Why is transparency and disclosure an important aspect of corporate leadership and governance?

  • It creates and sustains the confidence of investors, stakeholders and the wider society and provides opportunities for continuous improvement of business structures and processes.

6.Which among the following is not a key determinant of a competitive strategy?

  1. Company Strengths and weaknesses.
  2. Industry opportunities and threats.
  3. Broader societal expectations.
  4. Personal Values of key implements.
  5. None of the above.

7.When determining the requisite number of members of the governing body, What are some of the factors to be considered?

  1. The approximate mix of knowledge, skills and experience.
  2. The appropriate mix of executive, non executive and independent not executive members.
  3. The need for sufficient number of members that qualify serve on the committee of the governing body
  4. All the Above

8.The primary responsibilities of the board of directors include all but which of the following.

  1. Approval of the organizational structure and annual budgets
  2. Set and Oversee overall organizational strategy
  3. Determine the organisations , mission, vision ,purpose and core values
  4. Hire, appoint, evaluate and determine the tenure of the CEO
  5. Make managerial decisions that will increase the company’s stock price

9.The Audit Committee is granted which of the following authoritative powers?

  1. The authority to hire, fire, and compensate management.
  2. The authority to conduct any investigations deemed necessary to uncover fraud.
  3. The authority to engage independent counsel and other advisors.
  4. All of the above.

10.Which one of the following is not one of the elements found in the balanced scorecard planning method?

  1. Financial
  2. Learning and Growth
  3. Suppliers
  4. Customers