The culture and mindset of the organization decide the good governance practice. Good governance is all about outperforming sustainable organizations. These are the organizations that succeed consistently in the market place, gaining greater share of market opportunities and suitably drive their top and bottom lines.
Corporate governance consists of legal contractual and implicit frameworks that define the exercise of power within a company that influence decision making that allows the stakeholders to assume their responsibilities and that ensure that their rights and privileges are respected.
At GTB, we are committed to meeting the aspirations of all our stakeholders. This has been demonstrated in shareholder value creation, governance processes and an entrepreneurial performance focused on work environment.
Corporate governance is a set of systems and practices to ensure that the affairs of the company are being managed in a way which ensures accountability, transparency and fairness in all its transactions in the widest sense and meet its stakeholders’ aspirations and societal expectations. Professionals require enhancing their competency and capability levels to meet the expectations in managing the enterprise and its resources effectively and ethically to meet the good corporate governance standards.
GTB has fostered to sustain a culture that integrates all components of good governance by carefully balancing the complex inter-relationship among the board of commissioners, board of directors, audit committee, accounting team, auditors and senior management – President Director and Director of Finance.
GTB exercises the ultimate power when it allocates resources, which it does efficiently to create wealth for its stakeholders. To be successful in its regard, GTB has acquired the best resources – financial, material and human – at the best possible price and is using them as productively as possible. GTB exercises the governance within a legal framework that clearly sets out the latitude managers have when making decisions.
Now, over the years governance processes and systems have been strengthened at GTB and the corporate governance has always been an integral part of the way the business is done.