Good governance should start with boards’ own performance
The concept of good governance should be taken a step further, to one of good board self-governance—especially if companies are to navigate difficult, disruptive times.
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In the wake of recent corporate scandals revealing serious lapses in collective judgement, the board’s role in a company’s culture and leadership development is becoming an increasingly critical part of its oversight function.
Yet as boards push senior management teams to a stronger focus on fostering a positive culture aligned with the company’s mission and impact on stakeholders, boards must also hold themselves to the same high standards. If “culture eats strategy for breakfast”, then boards must examine their own culture, self-governance, and functionality, and how these factors support a company’s ability to deliver on its
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