Why Do Directors Need To Have Their Own Set Of Personal Standards?

The current state of affairs in corporate governance is characterized by different approaches of professional management communities to standardize the board director`s activity. Here is more about his personal standards.

Why are the personal standards of the directors so important?

Management activity is not just an occupation of a hierarchical level but a certain mechanism and algorithm of thinking with a systematic and strategic bias. Leading a company is a complex job that requires a combination of many qualities. These include the ability to think in a certain way and the ability to organize other people’s work and effectively plan the path of development. At the same time, the size of the organization and the number of subordinates of a particular manager are not so important. Leadership qualities are the same for directors of any scale.

For a board director, skills are important, and abilities and personal standards allow him to build effective communication with and between subordinates. For senior managers, it can be not only about relationships between individuals but also about relationships between structural units.

The introduction and application of a professional standard will make it possible to weed out officials who are insufficiently qualified for this work from the boards of directors or to create training programs and modules based on the standard that will allow officials to obtain the qualifications necessary for appointment to the board of directors.

A good leader must have a set of mandatory qualities. Only then will he be able to competently perform his duties, find a common language with employees, and influence the staff. Mandatory qualities for a leader can be divided into 3 parts: personal, professional, and business. Some of them are interconnected.

Personal standards necessary for a good leader

The personal standards of a director are a certain set of psychological and moral characteristics and personality traits that determine the management style.

In particular, the personal standards of a leader include: 

  1. Stress resistance and emotional stability. Of course, serenity is one of the most important qualities of a leader. Daily tasks contain new challenges, and the leader must set an example for others through his behavior. He must approach even unexpected tasks with restraint and a cool head. 
  2. Ambition. The leader should not set unrealistic goals but should not set too simple goals. Only in this way will the company be able to succeed.
  3. Systematic thinking. To make effective strategic decisions, the leader must systematically consider the totality of environmental factors.
  4. Courage and determination. Without these qualities, making non-standard decisions necessary in the era of transformation is impossible. Effective strategic decisions almost always lie off the beaten track. By repeating the decision of competitors, it is impossible to gain a market advantage, 
  5. Objectivity. The leader must be able to see the picture of the world without being distorted by emotions. Each specific situation should be assessed as objectively as possible. 
  6. Demandingness manifested in the course of monitoring the results obtained. If the small task is not completed, the big one will fail. Processes need to be managed at all stages, starting with formulating the problem and solving it when summarizing the results. In many ways, the leader’s personal standard determines the seriousness of the attitude to the tasks of subordinates.