The Institute of Directors is launching its inaugural Rural Governance Essentials course in Invercargill this month to support rural businesses in achieving good governance.
The response to the one-day seminar had been so good that a second seminar was now also being held.
Mr Arcus believed the agribusiness sector was ''waking up'' to the value of governance.
''It confirms our view that there is a real hunger out there for governance knowledge in agribusiness,'' he said.
Farmers could no longer rely on the country's reputation alone in the international market and they were being urged to ''think strategically'' if they wanted to grow.
While governance could be ''a bit of a mystifying word at times'', it was really about good planning, strategies, processes and systems.
''The best governance is not about putting the brakes on. It's about getting ahead. It's about knowing where you want to be and how you're going to get there,'' he said.
The course was designed to give insight into the benefits a board could bring, and the fundamental responsibilities of a board and its directors.
Guest speaker Kevin Cooney, who is head of ASB's agri-capital division, has led several private equity investment funds covering Australia and New Zealand for a range of institutions since 2000.
He has focused on agri-business since June 2013, and has also previously practised as a lawyer and chartered accountant.
Mr Arcus said red meat and dairy agri-businesses had become more sophisticated, with a broad spectrum of businesses within the sector, including multi-investor farming entities, syndications and traditional family businesses.
New Zealand's fortunes were still tied to primary industry and that was why it was so important to have good governance.
''We want to see well-schooled, informed directors getting involved in this sector. We don't want to see directors that don't know what they're doing,'' he said.
Farming businesses often relied on traditional lines of relationships, but many now were big businesses and needed people who could challenge thinking strategically for the future.
While the principles were the same, whether it was governance in agribusiness or business, there were some nuances that made agribusiness different, such as succession planning.
The course was for anyone who wanted to upskill in governance at an introductory level but also for people who wanted to contribute in the agribusiness space.
It was also an opportunity to network with others in the sector.
When it came to what made a good director, it was someone with an independent and robust view on issues and who could challenge and ''speak up'' and ''rattle the cage from time to time'', but they also needed to be able to reach consensus with others around the table, so it was quite a broad skill set, he said.
Mr Arcus believed the course, which could be held in other regions, would prove to be a ''light-bulb moment'' for some attendees.
