6 Items for the Top of Every Board's Agenda

Description

The role of boards of directors is in the spotlight. Can boards do a better job at protecting their companies? There's certainly good reason to think so. Today, some experts are calling for tougher regulations on boards and a larger role for shareholders in key strategic decision-making. Others advocate for more professional board directors. Neither of these solutions is enough. What is needed is a clearer vision of the firm's overarching purpose, as well as aligning and measuring its long-term success. Also required is a drastic rethink of how the board can add long-term value to the company it serves. Such changes will be necessary not only to shape up corporate governance practices, but also to safeguard the future of capitalism itself.

Keywords

competencies control corporate culture governance leadership development long-term view mission reputation risks short-termism social impact social responsibility strategy succession values