why do we often overlook the role of the board of directors in ethical scandals or...

why do we often overlook the role of the board of directors in ethical scandals or conversely in ethical organizational successes?

can you think of other factors that might encourage boards to act irresponsibly?

which of the reforms is most important to board performance? why?

Solutions

Expert Solution

Any corporation’s (whether big or small or start-up) culture starts at the top with the board of directors, CEO or executive director, and other top managers. It is Top-to-Bottom flow and approach. What they say and what the corporation has to say to media/ public/ customers/ employees communicates via their thought and approach.

Factors that might encourage boards to act irresponsibly:

Morally irresponsible and unprofessional nature
Personal benefits of stocks/ company facilities
Seeking personal benefits to drive large bribes/ commissions for self
Trying to seek a business or new company for own
Seek fame in company
Arrogance behaviour and nature
Providing benefits only to their loved ones or those who butter and polish

Required reforms:

become overall process compliant
better social dynamics of board interaction
better integrity of information and communication, and constructive involvement of individual directors
high-performance and competent board
thought process of continuous improvement
taking feedbacks, doing timely assessments to do gap- analysis and ability to take corrective actions on time

keosha answered 3 months ago

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