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Related Experiment Videos

Building better boards.

David A Nadler1

  • 1Mercer Delta, New York, USA.

Harvard Business Review
|May 19, 2004
PubMed
Summary
This summary is machine-generated.

Effective corporate governance requires intentional board building, not just external compliance. High-performing boards function as cohesive teams, focusing on clear goals and continuous self-assessment for optimal strategic contribution.

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Area of Science:

  • Business Strategy
  • Corporate Governance

Background:

  • Companies face increasing pressure to enhance corporate governance.
  • External compliance measures have limitations in fostering true governance effectiveness.

Purpose of the Study:

  • To provide a framework and tools for "board building" to create high-performance boards.
  • To guide boards in defining and achieving their objectives through structured development.

Main Methods:

  • The article proposes a strategic approach to board development, termed "board building."
  • Key steps include agreeing on board models, prioritizing tasks, assessing director strengths, and influencing meeting agendas.
  • Fostering a culture of candor and constructive challenge is emphasized.

Main Results:

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  • Boards can be intentionally constructed as high-performance teams.
  • Regular self-assessments and strategic alignment are crucial for board effectiveness.
  • A proactive board-building process can significantly improve board performance.

Conclusions:

  • Good governance relies on a board functioning as a competent, coordinated, and collegial team.
  • Intentional board building, supported by management, is essential for transforming good boards into great ones.