Reforming the corporate board from within: strategies for CEOs and directors

Article Abstract:

Many corporate boards have not been successful in performing their duties primarily because directors and chief executives have failed to develop a mutually supportive, performance-focused relationship. The inability to foster openness among chief executives and inquisitiveness among directors is at the heart of this breakdown in human relationships at the topmost corporate level. The absence of these qualities prevent corporate boards from performing useful practices which can improve the economic value of the firm, such as using board agenda productively and anticipating unpredictable events. Corporate boards that want to establish director-executive relationships can succeed in this endeavor provided that the firm is not in financial distress. This effort can also be boosted by ensuring that it is guided by the personal leadership of the chief executive or a director.

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Matching an organisation's planning and control system to its environment

Article Abstract:

A major problem that chief executives must face is getting management to commit to a corporate strategy, and then implementing it. The key variable to the successful implementation of a corporate strategy is the organization's planning and control system (PCS), which consists of an organization's rules, procedures, and processes used to direct the behavior and the decision management authority of management. There are four principles for the effective design of a control and planning system: consciously aligning organizational, sub-unit, and individual goals; tailoring the PCS to the needs of sub-units and to particular organizational situations; emphasizing the primacy of the perceptions of PCS users; and recognizing that a PCS is not static, but must be responsive to changes in the environment.

Methods, Analysis, Management research, Organizational research, Planning

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Competent directors: boardroom myths and realities

Article Abstract:

The results of three related questionnaire and interview surveys targeted at several hundred company directors were used to examine ten common assumptions about the operation of corporate boards. These assumptions were found to be largely inaccurate and in variance with the actual operation of corporate boards. Myths uncovered included the assumption that directors focus only on external business concerns, the misconception that all boards have a similar size and composition, and the idea that membership in a board requires a certain expertise in a specialist function.

Research

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