Governance room quiz Time to test your knowledge! How knowledgeable do you feel about governance now? 1 2 3 4 5 6 7 8 9 10 1 = I don't know anything about it 10 = I'm an expertWhat is the legal structure of your social enterprise? Company Limited by Guarantee (CLG) Community Interest Company (CIC) Scottish Charitable Incorporated Organisation (SCIO) Cooperative or Mutual Society Sole Trader or Partnership with a social mission Other Why did you choose this legal structure? To ensure limited liability for directors or trustees To align with funding requirements To enhance trust and transparency with stakeholders To qualify for tax benefits or charity status Other Is your organisation registered with the appropriate regulatory bodies? Yes, with Companies House Yes, with the Office of the Scottish Charity Regulator (OSCR) Yes, with the Financial Conduct Authority (for cooperatives) Other Do you have clear processes in place to meet legal and regulatory obligations (e.g., filing annual returns, impact reports)? Yes, fully established and reviewed annually Partially, but we are refining our processes No, this is a gap we need to address Other Do your governing documents include clear provisions for your social mission and profit reinvestment? (articles of association, constitution) Yes, fully incorporated into the governing documents Partially, with room for improvement No, and we need to update these documents Other Does your legal structure include an asset lock? Yes, we are required by law (e.g. CIC, SCIO) No, but we have internal policies to protect social assets No, this is not applicable to our structure Other How does your legal structure ensure that profits are reinvested into your social mission? Fully reinvested into the enterprise’s goals Partial reinvestment with clear allocations for operational growth Other Are you facing any challenges due to your enterprise’s legal structure? Accessing specific funding streams Attracting investment while maintaining a social mission Meeting complex regulatory requirements Other How does your legal structure create opportunities for growth or funding? Enables eligibility for grants or contracts Builds trust with stakeholders and funders Simplifies governance or operations Other Board of Directors or TrusteesHow many board members or trustees does your enterprise have?What areas of expertise are represented on your board? Select All Finance and accounting Legal and regulatory matters Community engagement and representation Business strategy and operations Social impact or charity governance Fundraising and grant management Select all that apply.Is the current board diverse in terms of gender, ethnicity, age, and lived experience? Yes, we actively promote diversity in our board recruitment Partially, but we recognise a need for greater diversity No, and this is an area we are looking to address Do you include beneficiaries or community representatives on your board to ensure their voice is heard? Yes, beneficiaries/community representatives have designated seats No, but we are planning to implement this No, we use other forms of stakeholder input How often does the board meet to review and make decisions? Monthly Quarterly Twice a year Other What are the primary responsibilities of your board? Setting the enterprise’s strategic direction Ensuring financial and legal compliance Reviewing impact metrics and performance Supporting fundraising and resource mobilisation Risk management and oversight Other Do you have subcommittees or working groups to address specific areas (e.g., finance, impact measurement, community engagement)? Yes, we have established subcommittees for key areas No, but we plan to create subcommittees in the future No, all responsibilities are handled by the main board Other How does the board evaluate its own performance? Annual self-assessments External reviews by a third party Informal discussions or reviews No formal process for evaluation Key personnelWho are the key members of your leadership team, and what are their primary roles? Add RemoveExample: CEO, COO, Finance Manager, Marketing Manager Format: Name, role, expertise.What are the key qualifications and lived experiences of your leadership team?Eg ,CEO, COO, Finance Manager, Marketing ManagerHow does the leadership team’s expertise align with your social enterprise’s mission? Financial sustainability Community engagement and impact Operational excellence Innovation and growth Other Describe what specific contributions do the leadership team members make to the enterprise?Example: "The CEO leads strategic planning and partnerships, while the Operations Manager oversees daily activities and ensures compliance."13. Do you have clear job descriptions and performance indicators for key roles? Yes, all roles have defined job descriptions and KPIs Partially, some roles have job descriptions but need updates No, we need to create or update these How do you involve your stakeholders (e.g., community members, beneficiaries) in decision-making? Regular consultations (e.g., focus groups, surveys) Inclusion of beneficiaries on the board of directors Establishing advisory panels or community groups Other How do you ensure that stakeholder input is acted upon? Feedback is reviewed and incorporated into strategic planning Stakeholders are updated on how their input influenced decisions We do not currently have a formal process for this How do you communicate governance decisions and leadership actions to stakeholders? Annual reports Community meetings or presentations Updates on the enterprise’s website or social media Other Do you have formal mechanisms for stakeholders to raise concerns or provide feedback? Yes, through surveys, a suggestion box, or feedback forms No, but we are planning to implement this No, we use informal processes instead Other
