Approach
LGC provides boards of directors with awareness on the modern corporation challenges, and subsequently, provides them with the required training and coaching programs which help them to establish effective leadership and institutionalize the proper environment across the corporation, enabling them to create the path and future they wish for their corporation. LGC’s services are focused on broadening perceptions on matters of decision-making processes, board dynamics, and board psychology, and enlightenment on the values, goals and purpose of the corporation. LGC’s services provide cutting edge principles and methodologies according to which global leading corporations use to transform the idea, purpose and direction of their business.
Classic examples of corporations’ failure, were mostly associated with problems of audit, financial statements and lack of control. Nevertheless, more recent corporations’ failures and the financial crisis of 2008, raised legitimate concerns about the whole process of decision making, and the whole conventional thinking of the corporation as an entity, its role, values, purpose and leadership.
Accelerating development in technology and information technology, in particular, made such concerns more challenging, due to the shift in power from the providers of services and products to the customers, which raised the call for altering the conventional thinking of the corporation as an entity, the role of the board and the way higher decisions are made. In this respect, it is worth mentioning that corporations’ leaderships which were motivated solely by profit and disregarded all other aspects, ended up struggling or failing, while other corporations that sought profit making as a consequence excelled and succeeded in times of market distress.
Corporate governance regulations linked the success of companies with the effective leadership of the board of directors and required the board of directors to set the corporation’s purpose and values aligned with the corporation’s culture. However, corporate governance regulations left this matter for each corporation to deal with on its own, as such matters vary from one corporation to another. LGC believes that tackling such matters before awareness and before disrupting the conventional thinking will not achieve the required goals, and will create duplication between companies in areas where what is required is uniqueness. Such approach is very likely not to be reflected on the business and operations of the corporation.
Corporate governance regulations called for upgrading the role of the board of directors from the traditional role, where board members used to be appointed for connections and image with minimal responsibility, into responsible boards that can take liability for ‘directing’ and ‘controlling’ the business, which can be described as the standard role of the board. Nevertheless, the dynamic technological change mentioned above requires a different type of boards, which is the pro-active board of directors, that can establish effective leadership, and can accommodate innovation and oversee the future. Such kind of boards are the enlightened boards of directors. When the concept of limited liability and incorporation was created by lawmakers, the purpose was to raise capital to launch mega projects that can serve people and raise their standard of living. Nevertheless, in short time, the deviation between the goals of the corporation’s controllers and those of the corporation and its owners were evident, where the controllers of many corporations deviated from the set of values, objectives and purpose of the corporation, leading the corporations to financial struggle or failure. LGC aspires, through its research, advisory and awareness services, to contribute to the change sought and desired for the way corporations are directed, controlled and run, aiming to safeguard the interests of the shareholders and stakeholders in general. We look forward to making corporations a better experience for humanity.