The British Financial Reporting Council has just released an updated version of the corporate governance code. The new Code recommends “in the interests of greater accountability”, that all directors of FTSE 350 companies shoulder-elected by the shareholders each year at the AGM. As with all other provisions of the Code, companies are free to explain …
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One of the most vexed issues when talking to people who aspire to company directorship is the simple question, ‘What does it take to be a director?’ There are few satisfactory responses. There are courses (some of which are very good and comprehensive) but none of these are accepted as proof that an aspiring director …
Understanding a Board’s System: Key of Improving Recent Breakthrough in Development: Systems Thinking One of the recent breakthroughs in organizational and management development is the ability to understand organizations and each of the various functions in them as a system. Each of the functions, such as Boards, planning, leadership, management, marketing, sales and finances is …
When Boards have recurring problems, such as poor attendance, low participation, high turnover of members, or increasing conflicts, here’s a quick process that I’ve used successfully to “jump start” recovery. Sure, the steps aren’t all of those needed for complete Board development — those steps would produce a blog post about 25 pages long. But …
The Corporate Secretaries International Association recently released a report, “Twenty Practical Steps to Better Corporate Governance.” It struck me that almost all of the steps applied to nonprofit Boards as well. (The Report refers to “corporate” governance, the phrase commonly used for for-profit Boards, which is a misnomer I believe because Boards are required for …
For nearly 30 years the heroic story of Johnson & Johnson quick action to remove Tylenol from the shelves after a deadly tampering incident has been folklore in business circles. So what do we make of the news today that The Food and Drug Administration is considering “additional enforcement actions” that might include criminal penalties …
Over the years, I’ve noticed four common types of “broken” Boards. One of the ways you can recognize them is by the comments that members make. Here’s the types of Boards and what you might hear members saying. 1. Detached Board “Why are you calling me to come to a meeting? What Board are you …