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What's the board's role in strategy development?: Why you need to redesign your board of directors - an interview with Jay Lorsch

What's the board's role in strategy development?: Why you need to redesign your board of... This noted authority on board practices believes that the root cause of board oversight failure lies in the inadequate attention given to the way each board is designed to handle its responsibilities. He outlines a reform agenda. A more active role means that directors will be challenged to understand increasingly complex business operations and finances. The first action needed is to get management and the board mutually to agree on what the financial and competitive goals of the company are. Second, the board needs to be clear on its role. Even though the spectrum of diligent oversight ranges from active participant to passive observer, the board needs to ask answer key questions: What decisions are the board going to make? What decisions need to be left to management? How much oversight is necessary or appropriate? What activities or programs is the board going to monitor? http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Strategy & Leadership Emerald Publishing

What's the board's role in strategy development?: Why you need to redesign your board of directors - an interview with Jay Lorsch

Strategy & Leadership , Volume 32 (5): 4 – Oct 1, 2004

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Publisher
Emerald Publishing
Copyright
Copyright © 2004 Emerald Group Publishing Limited. All rights reserved.
ISSN
1087-8572
DOI
10.1108/10878570410557642
Publisher site
See Article on Publisher Site

Abstract

This noted authority on board practices believes that the root cause of board oversight failure lies in the inadequate attention given to the way each board is designed to handle its responsibilities. He outlines a reform agenda. A more active role means that directors will be challenged to understand increasingly complex business operations and finances. The first action needed is to get management and the board mutually to agree on what the financial and competitive goals of the company are. Second, the board needs to be clear on its role. Even though the spectrum of diligent oversight ranges from active participant to passive observer, the board needs to ask answer key questions: What decisions are the board going to make? What decisions need to be left to management? How much oversight is necessary or appropriate? What activities or programs is the board going to monitor?

Journal

Strategy & LeadershipEmerald Publishing

Published: Oct 1, 2004

Keywords: Boards of directors; Leadership; Governance

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