Leading for Growth & Sustainability in Startups

ICDM Corporate Social Impact Initiative 

Leading for Growth & Sustainability in Startups 

Startups are often building the plane while flying it, but the most successful ones are those who focused on delivering value to their stakeholders. Corporate governance provides a good framework to allow a company to grow and sustain by balancing and addressing the vested interest of stakeholders, including customers, employees and shareholders. 

In fact, strong corporate governance practices promote a company culture built on high standards of ethics, accountability, transparency and fairness. Putting this foundation in place at the company's early stage allows the business to focus on innovation and delivering what it is set to do. It also makes scaling up easier and gives confidence to investors. 

As resources and competence in implementing good corporate governance are limited, there are practical ways that startups could learn the rope of good corporate governance and improve it along the way. One way is to assemble a board with directors with varied skills, incorporating board members with deep domain expertise and experience with related industries and customers. It is also beneficial to bring outside perspectives to the board with no material stake or interest in the company. This can be an independent director or simply by invitation to board meetings. 

ICDM, the national institute for company directors for Malaysia, invites you to join a complimentary panel session to help founders of startups to shape up their corporate governance as they go for their next round of fundings.