Many companies struggle because the boards and CEOs fail. Think about how your board adds value and how it may be a competitive advantage. If not, then the board acts as a rubber stamp for the CEO’s agenda.
The CEO must do the following in conjunction with the boards:
– Define the criteria of an outstanding board by focusing on its output.
– Learn the business model and regularly assess both managerial and industry issues.
– Consider merger and acquisition (M&A) criteria.
– Conduct cultural surveys to ensure minimal company code violations.
– Ensure that the development of future leaders is supported within the company.
Boards make very few decisions. However, those decisions may make or break your company.
