The CEO-board relationship in the governance and stewardship of value-focused aged-care facilities: an entrepreneurship perspective

This paper reviews the international need for aged care and discusses a model for creating an entrepreneurial environment for sustainable innovation based on an empirical study of five Australian aged care facilities that act entrepreneurially and support innovation to deliver resident valued services and meets policy guidelines aligned to community and government expectations and standards. Four validated and adapted audit instruments are used to: assess the opportunities for delivering socially sustainable entrepreneurship within the Australian aged care industry, through; assessment of the CEO-Board relationship; identification of entrepreneurial profiles; evaluating the stewardship of the board and management to establish an entrepreneurial culture; and measuring the intensity for sustainable innovation. Analysis indicates that the research instruments can both assess the climate for social entrepreneurship, identify both the training areas for sustained innovation and the dynamics associated with an effective CEO-Board relationship within aged care organisations.