When It Comes to Boards, Are For-profits Just Catching Up to Nonprofits?

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When It Comes to Boards, Are For-profits Just Catching Up to Nonprofits?

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McKinsey:financial pressures drive for-profit boards to improve governance. Korngold: for-profits following nonprofits. http://bit.ly/vkR8H
Friday, October 16, 2009 - 11:00pm

CONTENT: Blog

Once I started training and placing business executives on nonprofit boards sixteen years ago, they began asking me to help their boards to become more effective; moreover, simply "training" them was not sufficient. Neither was board "self-assessment." So, I developed a board assessment and development model and mentored others how to do conduct the process as well. Elements of my approach are described in Leveraging Good Will, and in various blog posts.

Through the facilitated process, the board develops a plan and begins, if needed, to refine its board model and committee structure, transition and strengthen the board composition, focus the board agenda (and understand exactly what information the board needs that is relevant and useful), and prepare for leadership succession, in order to better fulfill its oversight responsibilities and achieve the enterprise's greater potential.

What drove the demand from so many board members and boards for an effective change process for boards? 

For continuation, see http://bit.ly/vkR8H

Keywords: McKinsey | boards of directors

CONTENT: Blog

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