Enterprise Governance: Restoring Boardroom Leadership

 CIMA’s paper investigates how failures in corporate leadership contributed heavily to the global financial crisis, and how boards can be more effective and challenge management confidently.

 
Findings include:
Boards need an integrated approach to effective leadership.
Directors must incorporate behavioural and structural factors.
More attention must be paid to psychological factors contributing to board performance: creating a challenge culture, succession planning and effective risk governance.
There must be rigorous, regular and systematic board evaluation. The model proposed by this report could provide a useful input to the board evaluation process.
The board’s relationship with external stakeholders, particularly shareholders, is crucial. By focusing on its own effectiveness and contributions to the long-term sustainability of the organisation, a board will serve those stakeholders.
 

 

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