Paradigm flaw in the boardroom: Governance versus management

The purpose of this paper is to explore a more constructive role for corporate boards - one that would entail directors recognising the operational primacy of management and focusing their attention on the manner in which a corporation can best fulfil its long-term strategy. Paying more attention to...

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Bibliographic Details
Published in:International journal of disclosure and governance 2005-12, Vol.2 (4), p.348-356
Main Authors: Waitzer, Edward J, Enrione, Alfredo
Format: Article
Language:English
Subjects:
Boards of directors
Corporate governance
Corporate management
Decision making
Economic development
Performance management
Professional responsibilities
Regulatory reform
Stockholders
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Summary:The purpose of this paper is to explore a more constructive role for corporate boards - one that would entail directors recognising the operational primacy of management and focusing their attention on the manner in which a corporation can best fulfil its long-term strategy. Paying more attention to nurturing long-term, sustainable value will help differentiate roles and will suggest the need for new metrics and a deeper appreciation by directors of corporate strategy and organisational capacity. At a time when senior management are dedicating disproportionate resources to immediate compliance issues, it is critical that boards take such a broad view. [PUBLICATION ABSTRACT]
ISSN:1741-3591
1746-6539
DOI:10.1057/palgrave.jdg.2040004