Minimally the will include the following:
Running head: CORPORATE GOVERNANCE 1
CORPORATE GOVERNANCE 5
The rules under which an organization carries out its business activities and the principles that govern the organization’s relationship with the shareholders is what gets referred to as corporate governance. Innovia is a consulting firm that is well known whose services entail the delivery of innovative Microsoft ERP systems while focusing on the needs of their clients (Innovia Consulting Firm, 2020). Their services are exceptional as it makes use of an approach that is collaborative and pragmatic that lays focus on getting the work done. This proves the fact that Innovia is a NAV and Business Central Partner that customers can trust to achieve quality and the shareholders to achieve value for their money.
Corporate Governance in Innovia
Innovia Company’s corporate governance helps in the management of its relationships with customers, government regulators, suppliers, shareholders and the management (Hitt et al., 2016). Innovia sponsors an annual community summit in which all Microsoft Dynamics NAV and Business Central supporters and users gather. The sessions that take place in this event include the development of NAV/BC skills, leadership skills, and lessons on how to acquire more from the investment that has been made by Innovia Companies in the tool they use in running their business (Innovia Consulting Firm, 2020). The annual sessions that get attended by the company’s shareholders cover several topics that are explored fully by the shareholders and notes shared about how they can use the lessons they have learned in the sessions to improve the performance in their firms. The annual Community Summit helps both the organization and the shareholders significantly as foundations get laid for relationships and other connections that could be beneficial for individual and company development.
The objective of corporate governance in Innovia is to ensure that the interests of top level managers and the interests of the other shareholders in the organization are aligned. It involves oversight in instances where a conflict of interest may arise between the board of directors, managers and owners. Corporate governance processes get used by the company in the election of the members that become part of the board of directors. It helps in the management of the changes that often happen in organizations. Innovia Consulting is a privately owned entity that has twenty satellite locations and three offices. It has a team of consultants that deal with expert software that are responsible for providing their client-focused services, meeting the customer needs in every industry, big or small. Innovia has a common shareholder who is Microsoft, who have been their partners since the year 1984 (Innovia Consulting Firm, 2020). The other shareholders include the NAV/ Business Central developers that are based in the United States, the Support Desk 24/7 also based in the United States and the NAV/ Business Central customers who are over 100 in number.
Board of Directors
As indicated above, the members that make up the board of directors in Innovia get elected through the processes of corporate governance. The board of directors is made up of the leadership team including the founder who is also the chairman of the firm, Donavan Lane, the Chief Executive Officer and four other officers; the team for customer engagement led by the Chief Marketing Officer, Tom Doran and made up of eleven other specialists; the team for consulting services led by Holly Kutil, the lead customer care agent for Service and Support and twenty-one other members; the technical services team led by Chad Williams, Chief Operating Officer and thirteen other members; the group for marketing led by Tim Britton, marketing specialist and including two other members; and the Corporate Group with the Chief Financial Officer, Brian Hines and one other member who is a specialist in accounting.
Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2016). Strategic management: Concepts and Cases: Competitiveness and globalization. Cengage Learning.