If all the Directors on your Board and all the other leaders in your Indigenous corporation are of a similar profile, it's time to expand your ideas about diversity.
Diversity is not just about balancing the genders and the ages because if all your Directors share the same background - hard not to in an Indigenous context - you need more diversity for better all-round decision-making processes.
Indigenous corporations have evolved from "associations" incorporated under the old Aboriginal Councils and Associations Act 1976. They now have their own Corporations Act (the Corporations (Aboriginal and Torres Strait Islander) Act 2006) which was intentionally drafted to mirror the mainstream Corporations Act 2001 along with the duties, responsibilities and penalties attached to mainstream corporate governance.
Indigenous corporations have had to deal with more complex and non-local issues, particularly as many hold important assets as Native Title PBC's or as commercial arms of Native Title determinations and other royalty agreements. As a result, the perspectives that Directors need in decision-making have also evolved. While the need to remain connected to cultural imperatives and understand the stakeholders is still a key factor in all Boards' decisions, increasingly, Indigenous Boards need to understand the Law, Agreement-making, commercial opportunity, financial...
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