Good Governance and Innovation of Companies through Effective Boards

“Good Governance and Innovation of Companies through Effective Boards” was moderated by Şerif Kaynar, the Honorary Chairman of Korn Ferry, in the 12th Bosphorus Summit. The information in this article was gathered by the speeches of Tayfun Bayazit, Member of High Advisory Board, TUSIAD, Turkey Elif Ateş Özpak, Managing Director, Kybele Consulting UK, Turkey, Charlotte Valeur, Founder, Global Governance Group, Denmark and Uğur Bayar, Senior Advisor, Tekfen Ventures. The relevance of an innovative approach in collaborative leadership and teamwork was addressed by the speakers.

The 16th sustainable development goal is to promote peaceful and inclusive societies that give access to justice, which includes effective governance based on the rule of law.

Effective boards and working with communities to resolve problems are essential since it increases the participation of global governance organizations.

Furthermore, teaming with an inclusive leader who knows where to direct interest has a significant impact on an organization's ability to reach its intended goal and develop a strategy.

The panel's most important topic was transformation and technology, in order to stay current and implement a strategy that benefits all stakeholders.

To develop a deeper understanding of good governance, we recommend the 12 Principles, incorporated in the Council of Europe's Strategy on Innovation and Good Governance at local level and approved by the Committee of Ministers in 2008. They address ethical conduct, the rule of law, efficiency and effectiveness, openness, sound financial management, and accountability, among other topics.