Right Team

Yılmaz Argüden
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Chapter Chapter 2 in Boardroom Secrets, 2009, pp 17-26 from Palgrave Macmillan

Abstract: Abstract A well-functioning board needs to balance two sets of competencies: a shared ability to provide guidance and oversight and an individual ability to bring different experiences and perspectives to the table to provide diversity and challenge. Each member of a functioning board needs to consider each other member as a peer with respect to their seniority and experience in order to work as an effective team, but at the same time members need to be able to bring different perspectives and be willing to challenge the management and other board members, so as to avoid groupthink. For example, a board whose members are all financially oriented may be less willing to challenge the management about other areas and prone to miss operational, political, or reputational risks.

Keywords: Corporate Governance; Board Member; Geographic Scope; Effective Team; Orientation Program (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24829-8_2

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DOI: 10.1057/9780230248298_2

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