By Chiara Leardini, Gina Rossi, Sara Moggi
financial institution foundations serve a massive function within the Italian nonprofit zone. This e-book offers the felony grounds, components of intervention, and simple instruments focused on the asset administration and grant-making actions that such enterprises adopt. a unique emphasis makes a speciality of the analyses of the organizational constitution of financial institution foundations and the appropriate points of governance, rather with reference to the composition, roles, and duties of financial institution starting place forums. the final relief within the assets to which they've got entry calls for a brand new method that essentially defines long term objectives and the required techniques to accomplish them. the subject of strategic making plans is as a result additionally primary to this article, which examines its peculiarities, content material and governing our bodies. The research of a few case experiences offers a greater figuring out of the way within which foundations interpret strategic making plans and divulges strengths and weaknesses that call for cautious attention.
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Extra info for Board Governance in Bank Foundations: The Italian Experience
However, they draw on these principles on a voluntary basis to promote gender diversity as a source of variety of skills, diversity of perspective, and difference of viewpoints among the members of the board (Burke 1997; Dunn 2012). 4 Authority and Competence of the Boards and Transparency The activities that governing bodies perform require skills, experience, and professionalism in asset management and grant-making activity. , direction, management, or control), but they are all equally functional to the effective pursuit of the institutional goals of the foundation.
It can define the main guidelines of asset management and investment policy. • It can decide on extraordinary transactions (mergers and transformation). To perform the strategic function that has been assigned to it and determine long-term programs, priorities, and objectives of the foundation in an effective way, the Board of Trustees must have a thorough knowledge of the needs to be met within the territory. In addition, it must be able to establish the priority of those needs. The needs to be satisfied are many; the financial resources available for the grant-making activity are scarce.
It is a problem that is related not only to ethical behaviour but also, and more immediately, to the professionalism of the members of the decision-making body. Beyond the composition, the statute must also identify the skills deemed most appropriate to effectively carry out the direction function. In general, members of the Board of Trustees must possess a set of leadership competences (Harrison and Murray 2012) that may increase the effectiveness of the bank foundation’s activity. More specifically, the board must have the ability to understand complexity in the environment, identify a broad vision of the organization, identify the strategic priorities, acquire funds for the organization, develop strategic alliances in the community, and build trusting and supportive relationships with others.
Board Governance in Bank Foundations: The Italian Experience by Chiara Leardini, Gina Rossi, Sara Moggi