Ok, Good Corporate Governance requires the involvement of all stakeholders. But who steers the organization? In the end management is in charge. I am discussing the two tier structure here. The question I have is based on what I have seen the last couple of years in Curacao. Members of the supervisory board stepping into the role of management. Union and personnel telling management what to do. Supervisory board and union plotting against management. Union leaders demanding management to be fired. And you hardly notice the shareholder. The shareholder is often the government. And you do not need to be a genius to predict that the organization will not function and go bankrupt.
How come we are in this situation? The reason is not the lack of regulation. Curacao has very code codes regarding Corporate Governane. The reason is greed and love for power. It reminds me that we need the power of love and not the love for power. But there are also deep ingrained cultural issues playing a role here. Issues like colonial past and slavery.
What is the solution. Education. Not only professional education but education starting at home and in school. People need to be taught how to be part of an organization and what their role is.