Enterprises Board
Introduction
Royal Geographical Society Enterprises Ltd (RGSEL) operates under the authority of the Society’s Council which appoints the directors of the company. The financial and strategic parameters of the company are set through the Society's strategy, business plan and budgets. As directors of a limited company, the members of the Board have specific responsibilities and obligations and any scheme of delegation must respect the roles of both the Council and the company.
Executive responsibility for RGSEL sits with the Head of Enterprise and Resources who reports to the Director. Day to day management of RGSEL works within that line management structure.
RGSEL reports to Finance Committee.
Membership
Paul Dickinson (Chair)
James Cutler
John Gunn
Suzanne Reid
David Scott (Honorary Secretary, Chair of Finance Committee)
Joe Smith (Director)
Andrew Munro (Head of Finance)
Strategy
From time to time the Council reviews and revises its strategy. The strategy of RGSEL is a sub-set of the Council’s strategy and would normally follow a parallel process for its own development. The responsibility for this work sits with the RGSEL Board but final sign-off is the responsibility of the Council.
This approach does not preclude the Enterprise Board revising its strategy at other times should circumstances require but any change would require Council endorsement.
Business plan
The Society prepares a five year forward view captured in the business plan including key assumptions, and objectives and their financial consequences. Likewise, RGSEL prepares its own business plan using strategic assumptions agreed with the Council. The business plan is signed off by the Board and endorsed by Council.
Budgets
Annual budgets are prepared covering all activities of the Society. As part of this process RGSEL prepares its budget which defines the income objectives for the coming year and associated resources, including headcount, and their cost. The budget is signed off by the Board and endorsed by Council.
Approach
The approach of strategy, business plan and budget sets the control framework within which the executive operates. Board review of performance will normally focus on variance to the relevant control document.
Delegation
The Board delegates to the Director, and he in turn to the Head of Enterprise and Resources, the authority to take necessary executive decisions to deliver the plans and budgeted outcomes. The executive is expected to respond to circumstances and opportunities within the framework to deliver the best outcome for RGSEL and in turn the Society.
Restrictions on delegated authority
Capital expenditure and building maintenance
Capital Expenditure and building maintenance are managed across all the activities of the Society. Enterprises are expected to participate fully in developing the plans for these activities to ensure that the current and future condition of the fixed assets are consistent with the objectives of all the Society’s activities.
Headcount
Redeployment of staff within the remit of RGSEL is delegated to the Head of Enterprise and Resources if within budget.
Recruitment and redeployment of staff within budget across the Society is delegated to the Director. [Not strictly a matter for RGSEL delegation]
Recruitment of additional staff to budget in RGSEL would be approved by RGSEL Board and endorsed by the Finance Committee.
Novel, contentious and repercussive commitments
From time to time decisions will be required that are outside the normal course of business. These may be by virtue of the length of commitments, onerous conditions, reputational or credit risk, activities outside current strategy or other reasons.
Such decisions should be signed off by a combination of Executive and Non-executive Board members. It is expected that major decisions would be taken through the Board but in any event the minimum requirement would be either the Director or the Head of Enterprises and Resources, and, either the Chair of RGSEL or the Honorary Treasurer.