The Board Book: Making Your Corporate Board a Strategic Force in Your Company's Success

The Board Book: Making Your Corporate Board a Strategic Force in Your Company's Success

The Board Book: Making Your Corporate Board a Strategic Force in Your Company's Success

The Board Book: Making Your Corporate Board a Strategic Force in Your Company's Success

Synopsis

For nepotism, lethargy, and plain old misguidance, few corporate entities can top the board of directors. And that's a shame, because engaged, knowledgeable boards can make a world of difference, setting an organization's strategic direction, infusing it with valuable expertise, and rendering the company attractive to investors. The Board Book is the most succinct, reader-friendly guide available to recruitingand managing on-track, top-notch corporate boards - the kind that serve as pivotal success factors for companies of every size. Packed with both real-life success and horror stories, this fast-paced book explains the 11 guiding principles for transforming a board, exploring issues such as:
- Using insiders, consultants, and friends on a board
- Interlocking directorships
- Conflicts of interest
- Diversity
- Information flow
- Complacency
- Board overload
- Groupthink
- Turnover, and more." "

Excerpt

In December of 1995, I was in the passenger seat of a Lexus on my way to a dinner party. We turned left in front of a car that slammed into me at 65 mph. Six surgeons with just the right specialties came together to save my life. If even one of those six surgeons had been absent, I would not be here today. I might have lived, but I wouldn’t have recovered and flourished. the fact that there were six surgeons with the exact and complementary skills and the synergy that came from focusing together on the strategic goal—saving my life—was what mattered.

You may have heard the saying that being a director is like flying an airplane—boredom punctuated by sheer terror. I was in the hospital for many months, and all I and my board of surgeons focused on was my survival. Boards are like that. Most of us have companies and investments that run pretty well. But, what if something catastrophic happens? Where would we turn? Could we be better? Must we have a catastrophe before we reach out? Is the challenge of the new millenium catastrophic enough?

I want to challenge you. You all have some stake in successful companies or you wouldn’t be reading this book. You each are using your talents. If you had six people, each with experience that was precisely targeted to your strategic needs, and if those people were focused on making your company the best it can be, would it be different? in what way?

I have worked with boards quite a few years, but I got to thinking about those six surgeons and how their coming together at that critical moment is the way boards should work. Obviously this is an extreme. At least, I hope so. You don’t have to have a car accident to appreciate how important it is to focus on the critical things and to take advantage of the best talent available. So this is my challenge to you. Think about . . .

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