#cannabisnews

Pillars of Cannabis Governance: DIVERSITY

The best ideas are generated and executed by diverse teams. These teams are highly successful because they include individuals with various backgrounds working together pursuing a common objective.  Similarly, some of the best, well vetted, and most profitable strategies are spawned from diverse boards.

Different people experience the same situation differently, therefore diversity at the board level means the inclusion of talent that is different yet complementary; talent that is packaged in various shades, shapes, and sizes, and that is present in various cultures, ethnicity, sexual orientation, and gender.

Diverse thoughts, skills, backgrounds, and experiences at the highest level of decision making will help cannabis companies build and sustain a competitive advantage in this global economy.

Shelley Albert, Director, AG Governance Consultants

www.aggovernance.com

Stand Up to Scrutiny with Cannabis Governance

As the cannabis industry experience explosive growth and the investor base morphs from retail to institutional, scrutiny becomes global and information transfer instant.  This will intensify the pressure on cannabis companies to have proper governance infrastructure in place.  

Institutional investors demand proper governance and at times take action to bring such demands to fruition.  By being transparent, independent, diverse, and responsive, Boards will be better equipped to ward off cynics and activist investors.  

The winners in the cannabis industry will be those with systems and processes in place that garner the support and confidence of both retail and institutional investors.

Shelley Albert, Director, AG Governance Consultants

www.aggovernance.com

Why Care About Cannabis Governance

You should care about cannabis governance because if your cannabis organization gets corporate governance right, you enhance your reputation and brand thereby leading to greater business opportunities.  Companies that get it wrong face the risk of regulatory fines, suspensions, damaged reputations, and shareholders’ activism.

In today’s ultra-competitive marketplace, progressive companies are allocating more resources to their governance structure because good governance facilitates transparency, accountability, and ethical decision making. This builds trust and enhances investors’ confidence in the organization’s leadership.

Shelley Albert, Director, AG Governance Consultants

Cannabis Governance: Winning at Cannabis

Winning in the cannabis business involves more than just turning a profit and meeting the minimum regulatory requirements.  Good corporate governance is essential for winning in the cannabis space.

Irresponsible use of legal cannabis by a few is inevitable and may result in harm to society.  The manner in which cannabis companies respond to such incidents, and their level of participation in resolving those issues will determine the future of the industry in Canada.  Transparency, unquestionable accountability, and corporate social responsibility are vital in removing the stigma associated with cannabis and securing the longevity of the industry.

Shelley Albert, Director, AG Governance Consultants