Academia de Guvernanță. Governance Is Not Optional: It’s the Key to Trust, Performance, and Economic Stability
Behind a company’s sustainable performance lies more than a strong strategy or robust financial metrics. What truly makes the difference is the governance framework—a system of integrated rules, values, and processes that shapes how organizations make decisions, manage risks, and assume responsibility toward stakeholders.
Far from being a technical or bureaucratic concept, corporate governance acts as a vital mechanism for credibility, transparency, and stability. On Academia de Guvernanță at Profit.ro TV, Gabriela Hârțescu, Dean and founding member of ENVISIA – Boards of Elite, and Cristian Sporiș, Vice President of Raiffeisen Bank Romania and President of AmCham Romania, emphasized the increasing importance of governance in fostering a healthy, predictable economic environment.
Sustainable Development Begins with Strategic Governance
Dr. Gabriela Hârțescu defines corporate governance as an interdependent system—more than just internal policies, it drives organizational performance and strengthens the business climate. Transparency, accountability, and an ethical culture build trust among investors, employees, and other stakeholders. Investors, partners, and employees are naturally drawn to organizations that uphold these values.
“A transparent company with responsible operations, ethical standards, and integrity earns the trust of investors, clients, suppliers, and employees, and naturally achieves profit within a broader positive societal impact,” adds Hârțescu.
Ethics, accountability, and transparency are grounded in governance and ensure legal compliance.
“International studies show that organizations with a strong ethical culture boost productivity and long-term sustainability. Governance starts at the board—overseeing management’s strategy execution down to basic organizational practices: compliance, talent development, remuneration, and transparent communication.”
To meet these demands for expertise and strategic responsibility, ENVISIA, in partnership with Henley Business School (UK), offers the Postgraduate Certificate in Board Practice and Directorship—equipping leaders for current and future governance complexities. Deadline: September 5 – Henley Programmes | ENVISIA
Investor Confidence Through Clear Rules & Checks
Cristian Sporiș explains that governance comprises national and international rules that create transparency and checks-and-balances, which in turn enhance investor confidence and decision legitimacy. Without clear mechanisms, companies risk being seen as fragile, and their financial reporting becomes questionable—especially critical during crises.
“In crisis moments, when companies struggle, the strength of their governance system—whether real or superficial—will be revealed. That’s the real value of good governance: transparency and accountability,” Sporiș adds.
State-Owned Companies Especially Need Reform
Political instability in leadership appointments undermines governance in public entities. Private companies have fixed board terms, while state-owned ones often change with each new government.
“Political loyalty often outweighs merit in state-owned firms. That’s why the EU, OECD, ESG standards, and private sector forces push public companies to adopt robust governance practices—to avoid leadership change with every cabinet reshuffle,” explains the AmCham President.
Human Resources as a Strategic Engine
Often overlooked, the human element in governance is critical—especially given demographic shifts and new workforce expectations. HR must evolve into a strategic board-level function, guiding talent acquisition, development, and retention.
Gabriela Hârțescu highlights that workforce stability at both national and organizational levels attracts foreign investment and supports long-term economic stability.
“Ethics is a core organizational value, particularly as we face demographic changes. That’s why we’re seeing board subcommittees rename and refocus on talent strategy and retention. HR must now operate as a strategic board function. Demographic trends are both a risk and an opportunity.”
Read more here and watch the video interview here.
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