What Makes a Board Progressive
An energized and active board is no guarantee of good governance. Indeed, when a Liberated board fails to fully evolve and gel into a cohesive body, it can be a serious problem for the business.
In one board meeting, for example, a director demanded that a version of the company’s strategy be produced with a ten-year time horizon. “What will we be when we grow up?” he asked, just before he expounded on the ten-year master plan for his own company. After an awkward silence, the CEO promised to come up with an analogous ten-year plan. The other directors knew the company was in a turnaround; the industry was changing so rapidly that mapping out actions beyond three or four years was pointless. Hearing ...