The Ultimate Goal for every Company Director

Make business profitability your goal

Make business profitability your goal

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What should a the role of a Director do?

On the face of it this is now a simple question with the answers in Statute Law as a result of the Companies Act, 2006.

  1. To act within powers
  2. To promote the success of the company
  3. To exercise independent judgment
  4. To exercise reasonable care, skill and diligence
  5. To avoid conflicts of interest
  6. Not to accept benefits from third parties
  7. To declare interest in proposed transaction or arrangement with the company

I’m not going to try to tell you what these actually mean, I’m not sure I could put it into words, let alone tell you how you would prove you are doing these things. It is just what you have to do, right?

However, there is no indication, expectation or promise that doing the above will make your company successful (unfortunately). That – should it exist, is surely the magic formula that people really want to know.

And thank (your search engine of choice) there are many anecdotes, quotes and one liners from all our favorite business leaders, available at the click of a mouse to keep us engaged in all sorts of projects and beliefs and basically busy from dawn to dusk and beyond.

For all the options and opinions, no matter what course you plot for your organisation, there should be one ultimate goal all directors strive for. There should also be only one answer that you give when asked what your company ‘does’.

The answer needs to be “Make Money”.

A process improvement strategy will make the most of your existing assets and bring the best out of your workforce. Lean Reliability Centered Maintenance removes waste from industrial and utility operation and maintenance and therefore increases overall equipment efficiency (OEE). The result?  A significant reduction in operating costs, a skilled team and an increased profit margin – now that is what director should want from their company right?

Visit us to find out how we can help you apply Lean RCM in your organisation.

 

 

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