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We have observed boards move between three stages in the past five years. Most boards prior to the debacles at Enron, Tyco, Global Crossing and others were in stage one: Mighty Proud to Be There. Following the wake-up calls issued after the revelations of scandal, boards were thrust into a stage in which most have reached a Plateau, but have not progressed beyond there. Finally, we have observed a few boards that have launched themselves onto the path of the third stage, a High Performance Board.
What does a board and its leadership need to do differently to get unstuck and to evolve to the High Performance stage of board work? We will discuss eight essential steps the board and its leadership can take to move the board up the performance curve and to more fully capture and exude the spirit intended by the changes enacted through laws and regulations. Moreover, these steps will boost the return on investment of your board to the extent that you can realize the full potential your board has in order to become a competitive and strategic asset for the organization.
Authors: Lana J. Furr, Richard M. Furr, Ph.D.
Source: CEO Refresher
Subject: Corporate Governance
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