The Daily Stat: Directors want better boards
February 2nd, 2010 by Dick
In a recent survey by McKinsey, reported at The Daily Stat, over half of directors thought their boards had failed to meet the demands of the recent crisis.
Underachieving Boards
We find it interesting that of the ten topics mentioned, only three had ‘implemented’ scores higher than scores for woulda/coulda/shoulda (still!).
Furthermore, it echoes the nostrum about some generals’ tendencies to fight the last war. Existing regulations typically fail to anticipate the next regulatory breakdown because they’re designed to prevent the last one.
As we’ve written elsewhere, great boards are less a matter of rules and procedures and more a matter of how the members interact within the framework created by any set of rules and procedures.
