Put together a group of strong-minded people, arrange for them to meet six times a year, have no performance targets for them, and recruit a number of outsiders with no knowledge of the industry or the company into the group. Would they function as a team? We doubt it. Yet this is how we organize corporate boards. They are thrown together half a dozen times a year, with vague — sometimes nonexistent — performance objectives and expected to provide decisive leadership and deliver corporate performance to exacting governance standards. Then we wonder why it sometimes goes wrong.
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