São Paulo, February 7th, 2024 – Corporate governance is a set of practices and processes that aim to ensure transparency, ethics and responsibility in the functioning of companies, involving the rules and control mechanisms that guide decisions and actions of the managers, aiming to protect the interests of shareholders and other stakeholders.
And its importance is related to the need to establish an efficient and reliable management structure, which promotes the confidence of the investors and business sustainability, contributing to risk reduction and maximizing the value of companies, in addition to promoting transparency and accountability.
The term, coined in the 1990s, arising from Governance already implemented in public bodies in the 1980s, has been applied very effectively by several companies around the world, to achieve even more sustainable growth.
One of the main elements of corporate governance is the composition of the board of directors. This body is responsible for making strategic decisions and monitoring the performance of the executive board. It is important that the board is composed of independent members, who have knowledge and experience relevant to the company, ensuring impartiality and diversity of perspectives.
Large corporations rely on Governance to grow sustainably.
Tatiana Aloia, co-founder of Aloia Aerospace Inc., a multinational company that operates in the spare parts market for the Aeronautical Industry, is always looking for continuous improvement in her company, following the four pillars of Corporate Governance: transparency, accountability, equity and corporate responsibility.
The executive commented on the role of Governance for companies in any segment, especially Aeronautics, and the benefits it can bring.
“Corporate governance is fundamental in all sectors, and it wouldn’t be different in aeronautics. Starting from the premises of the company’s mission, vision and values, frequent monitoring of all results and all actions and initiatives behind them is a sine qua non condition for the success of a company, as well as the adjustment of goals and their respective actions when necessary”, says Tatiana.
Another fundamental aspect of corporate governance is the disclosure of clear and accurate information. Companies must provide financial and non-financial reports in a regular and transparent manner, allowing investors and other stakeholders to have access to relevant data for decision-making. Furthermore, communication with employees, suppliers and society must be made in a clear and accessible way, promoting trust and transparency.
In fact, for Tatiana, it is especially important to promote an inclusive and collaborative work environment. “Clear and transparent communication promotes team inclusion and encourages greater collaboration from everyone. We need transparency and clarity in speaking, writing, listening and everything that involves communication, including training, feedback and positioning with customers, suppliers, partners and internally. Collaboration needs to come from managers, for example, and involves close training for each professional”, she says.
Corporate governance also involves defining risk management policies and practices. It is essential that companies identify, evaluate, and manage the risks to which they are exposed to, seeking to minimize possible negative impacts and protect the interests of shareholders. The adoption of good risk management practices contributes to business sustainability and to the creation of long-term value.
Furthermore, corporate governance encompasses executive compensation and the management of conflicts of interest. It is important that remuneration systems are transparent and aligned with the company’s results and performance, avoiding inappropriate incentives and practices that could compromise the integrity and ethics of managers. Conflict of interest management, in turn, aims to ensure that shareholders’ interests are protected and that decisions are taken impartially.
In general, companies always carry out their Governance actions in conjunction with Compliance, which has an invaluable contributory basis in this process and in improving people management.
“In my opinion, Compliance is the four-eyes policy, which greatly increases the chances of correcting errors before they become a problem of poor customer service, for example”, teaches the executive.
In the current context, corporate governance has become increasingly relevant, especially in the face of the growing demand for sustainability and social responsibility. Companies that adopt good governance practices are in a better position to attract investments, establish strategic partnerships and face market challenges.
“The best practices to boost excellence and operational efficiency in the aeronautical market are, at first, safety, followed by technical knowledge and application of procedures, aiming for zero failures”, she highlights.
In short, corporate governance is essential for the proper functioning of companies and the protection of shareholders’ interests. It promotes transparency, ethics and responsibility, contributing to the creation of value and business sustainability. By adopting good governance practices, companies can strengthen their reputation, attract investors and stand out in an increasingly competitive market.
“A healthy and welcoming work environment, with standards and safety, brings lightness to everyday life and allows all professionals to seek the best solution for the client in all situations. Currently, speed is the word of the moment and the aeronautical sector benefits greatly from quick solutions”, concludes Tatiana Aloia.
Aloia Aerospace Inc.
Aloia Aerospace Inc. is a company specialized in spare parts and materials for the Aeronautical Industry, with special service for executive, regional and commercial aircraft in more than five countries.
Founded in 2015, by siblings Tobias Aloia and Tatiana Aloia, the company’s main objective is to contribute to the global logistics flow through aeronautical supply, offering direct contact with maintenance centers and manufacturers around the world.
The partners’ expectation is to operate with Aloia on all continents, always maintaining its high standard of service.
