Corporate Governance, Marketing Governance & Strategy
What is corporate governance? The Definition of Corporate Governance:
"Corporate
Governance is overseeing management, control and coordination of overt and implied needs and wants of the organisation aligned to legal, moral, industry,
cultural and political expectations of all stakeholders with whom it transacts or effects, and the resources available; transparently, responsibly and diligently
so as to engage and align with clarity and purpose." © Leigh
Cowan 2010
Strategic Marketing Governance significantly lightens the burden on Board members in terms of Corporate Governance responsibilities and leadership.
Q: What is 'Marketing Governance"?
A: Marketing Governance is building sustainable competitive advantage, harmoniously in the context of the organisation's purpose; ethically and optimally managing
business & interactions with the market, within the limitations of the resources available to the organisation. © Leigh Cowan 2010
Q: So what is good Marketing Governance?
A: Good marketing governance is having the wisdom and experience, understanding & education, to acknowledge the potency and impact of embracing advanced marketing science and proven business methodology for all marketing practices. Because this requires strategic marketing qualifications and specialist know-how, operational marketing executives sometimes recruit specialist advice to ensure quality marketing governance.
Q: How can senior management ensure good Marketing Governance?
A: Usually internal executives don't possess the breadth of commercial knowledge, as they are specialist in their field of operational expertise. This is why it is sensible to solicit advice from specialist consultants with specific training, experience and strategic skills that complement internal operational marketing skills.
Q: What Should You Expect from Marketing Governance Consultants?
A: The measure of a good consultant is one who generates more in profits than they cost.
If you are a leader in business you have decades of operational experience, and intuitive strategic sense... you just need advisers who have the same level of strategic experience as you have operational experience, THEN you'll soon see the value.
Q: Are Governance Consultants a Sensible Investment?
A: Strategic consultants don't stimulate sales by a few percent, they double them. They don't change a logo and call it a huge success, they change a corporation's performance. They don't launch a single new product and beat their chest, they launch a whole new category and only ask that you pay your bill on time. The problem is too few executives realize how vitally enriching strategic guidance is to the future...
Is Corporate Marketing Governance Essential?
What is the secret to post-IPO success?
Interestingly, from 2004 to 2007, a study was undertaken that monitored the progress of companies recently listed on the Australian Stock Exchange. Consistently, those that failed, and are no longer in business, were led by Board members that lacked any formal marketing qualifications. Boards with Directors possessing formal Marketing qualifications showed consistent higher than issue share prices.
Searching for 'Blue Ocean' Strategies?
Once you understand the hierarchies of marketing, the relevance of strategic marketing management starts to become clear.
Strategy leadership can engage and align virtually any organisation to meet even the toughest demands of market, shareholders and the environment.
Good Marketing Governance Creates Employee Engagement
Globally, only 16% of employees on companies employing over 200 people are engaged. One-third of these cite their dissatisfaction with lack of direction.
Even in Australia only 24% of staff are engaged employees, with the majority unengaged and over 18% actively disengaged (trying to sabotage your business).
Once you embrace market-led strategic management, laying down purposeful Mission &
Vision, you engage your people, giving them focus, purpose & direction.
Key Issues in Strategic Leadership and Corporate Marketing Governance
All marketing expenditure should be completely accountable.
Adopting disciplined managerial marketing methods help make a company's marketing activities much more productive and efficient.
There is no reason that most businesses shouldn't be able to accurately forecast next year's earnings. They should achieve the goals they set for themselves every time!
Corporate Governance is Coming Under More Scrutiny
It is often said that "Finance is the fuel, but Marketing is the engine". Although Accounting & Finance have borne the blame for corporate failure in the past, focus is now turning to Marketing Governance.
Best Consultants To Mentor You In Corporate Marketing Governance
Of course we're not the only consultants available, but think about these credentials:- You'll have a consultant who has sat on Boards of Management, and KNOWS what you're going through
- You'll have a consultant who has been a Director of a Public company and is experienced and seasoned
- You'll have a consultant who has delivered successful strategic direction for $1B+ businesses, down to $5M businesses
- You'll have a consultant with sufficient levels of knowledge to lecture in in Marketing in an MBA degree
As investors and backers develop more mature and professional understanding of Marketing, abandoning the limited perception of Marketing as just Promotional Communications, Marketing Governance is becoming a key focus point. Don't be left behind. Ask for more information, call 02 98011 4355 now.
Talk to a Marketing Governance Specialist
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