内部策略——治理结构外文翻译.docVIP

外文翻译 原文 Internal Strategy-Governance Structure Material Source: Delivering Results Managing What Matters Author: Lawrence P.Carr, Alfred J.Nanni We are told solid foundations are necessary for strong structures. Configuring the ownership and governance, the platform of a firm, is critical for creating a wellbuilt MSDR system. The home foundation contains the critical sources of water and power so necessary for a well-functioning house. The governance structure establishes the pathways and control of an organization. It directly affects how the organization functions and how the agents manage the firm. Just as architects must consider the building configuration when designing the operating systems, MSDR designers must consider the nature of the business, the structure of ownership, and the strategic intent. In this chapter, we explore the governance structure, and in the next chapter we look into the organizational structure. Governance Structure The organization’s structure has everything to do with the execution—and ultimate success—of strategy. Starting with the stockholders, it is extremely important that they are in harmony with their agents, the managers of the firm. The board of directors, elected by the stockholders, serves to ensure that these parties have the same expectations and goals. A category of business literature, called agency theory, explores this topic. Suffice it to say, a critical element of an MSDR system is to align goals and personal rewards between owners and agents. This helps ensure that managers are motivated to do the best thing for the corporation and not, necessarily, only the best thing for themselves. What will the governance structure look like? What is its blueprint? Rules of Engagement We discuss the governance rules of engagement under the following categories: Independence, Structure, Lack of Knowledge, Independent Auditor, and Individual Roles. Independence: A proper set of incentives is the