With boards facing increased regulatory and diversity pressures, the basics matter more than ever.
In many countries, boards of directors (particularly those of large organisations) have functioned too long as black boxes. Directors’ focus has often – and understandably so – been monopolised by a laundry list of issues to be discussed and typically approved at quarterly meetings. The board’s own performance, effectiveness, processes and habits receive scant reflection. Many directors are happy to leave the corporate secretary with the task of keeping sight of governance best practices; certainly they do not regard it as their own responsibility.
However, increased regulatory pressures are now pushing boards toward greater responsibility, transparency and self-awareness. [MORE]