It is of fundamental importance to the COSBOTS team that we maintain regular and transparent engagement with all our relevant stakeholders in order to have a comprehensive understanding of what is important to each of our various key stakeholders and for the team to identify what is most material in the furtherance of the Society's business.
The information we gather from our various stakeholder engagements feeds into our decision-making process and also drives our business strategy.
Over the last six months the key focus of the Board, management and staff has been to bring the much-needed stability to the organisation. Top of the agenda has been the improvement of internal business processes that are part and parcel of good corporate governance. This improvement has been brought about through the documentation of all the organisation’s processes, including the introduction of risk mitigation strategies and strengthening the general internal control environment. The Board has over this period considered and approved a number of policy documents, which include charters for both the Board and the various sub-committees of the board. These sub-committees have also started functioning and hold regular meetings to hold management accountable for their actions, and to ensure that the interests of members are protected against possible management negligence.
The COSBOTS team has also been seized with the matter of reviewing the company’s constitution, social and cultural fund for COSBOTS members, as well as considering the provision of monitoring services. The monitoring service will offer an automated works usage system, in order to help with accurately determining who should be paid in respect of what usage of works. Work in this respect is still on going. The organisation is also piloting a works documentation system developed by the World Intellectual Property Organisation (WIPO) called WIPO connect. This system will enable the Documentation and Distribution department to easily navigate member information and interrogate data-based on musical works etc. WIPO connect also acts as a membership system that links member names to relevant personal and professional information of members. We are all aware of the developments in recent times, where collection societies have been in the midst of various scandals, which have occurrence, has left
The importance of governance cannot be overemphasised, and good corporate governance demands the constant development and review of the corporate strategy to ensure that the Society remains true to corporate objectives and best practices. It is against this background that the Board, management and staff will be reviewing the current strategy to ensure that all its provisions align with and respond to the vision of the organisation. The team will also be starting the process of developing a new fit-for-purpose strategy for the next strategic planning cycle that starts in July 2019.
COSBOTS team would like to take this opportunity to assure members and all its stakeholders that it is totally committed to adhering to the highest possible corporate governance practices and that members should take the Board, management and staff into their confidence. This is the first instalment of what will be a regular and transparent engagement with our relevant stakeholders and the organisation commits to continue to brief its stakeholders on developments occurring in their organisation, in pursuance of the universal principles of transparency, accountability, fairness and responsibility.
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Physical Address: Unit 1, Plot 93 Gaborone International Commerce Park
Postal Address: P/Bag B075 Gaborone