Back to the Drawing Board

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Rethinking Corporate Boards for the Twenty-First Century
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I ORPORATE BOARDS ARE UNDER PRESSURE. ^^ Around the world, scandals and company failures have provoked a storm of criticism and well-meaning reforms. In response, a variety of "best practices" have emerged, but can such ad hoc adjustments fundamentally change the capacity of boards to provide good governance?
Colin B. Carter and Jay W. Lorsch argue that to truly improve board performance, we must get to the heart of the underlying problem: today's boards are largely comprised of busy, part-time members who have limited knowledge about the companies they oversee and little time in which to make decisions about everything from accounting and financial policies to strategy to succession planning and compensation. How boards carry out their roles, behind closed boardroom doors, is the real driver of success or failure.
In Back to the Drawing Board, Carter and Lorsch reveal that boards are in need of a major... Tovább

Fülszöveg

: i; i

Rethinking Corporate Boards for the Twenty-First Century
n
I ORPORATE BOARDS ARE UNDER PRESSURE. ^^ Around the world, scandals and company failures have provoked a storm of criticism and well-meaning reforms. In response, a variety of "best practices" have emerged, but can such ad hoc adjustments fundamentally change the capacity of boards to provide good governance?
Colin B. Carter and Jay W. Lorsch argue that to truly improve board performance, we must get to the heart of the underlying problem: today's boards are largely comprised of busy, part-time members who have limited knowledge about the companies they oversee and little time in which to make decisions about everything from accounting and financial policies to strategy to succession planning and compensation. How boards carry out their roles, behind closed boardroom doors, is the real driver of success or failure.
In Back to the Drawing Board, Carter and Lorsch reveal that boards are in need of a major redesign. Based on their deep experience working with the boards of some of the world's leading companies, the authors outline an approach to board design that is applicable across countries, industries and businesses—yet can and must be customized to suit each board's unigue situation. Taking us well beyond the externally monitored elements of board structure and practice that are the target
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of most reform attempts, Carter and Lorsch explore how to:
• Define a board's role in light of the time and knowledge available and the circumstances of the business
• Redesign a board's size, leadership model, and committees to best fulfill its role
• Select and develop board members with the right mix of experience and skills
• Rethink and reshape processes and practices to effectively change board behavior, keep members better informed, and improve decision making
Essential reading for directors, chief executives, regulators, and any professional working with boards. Back to the Drawing fioord provides a candid assessment of the current state of boards, and clear insight on how to move forward in challenging times. Vissza