Abstract
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.
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1Chair, Stikeman Elliott LLP
2Pricewaterhouse-Coopers professor of Corporate Governance, ESE, Graduate Business School of the University of Los Andes in Chile
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Waitzer, E., Enrione, A. Paradigm flaw in the boardroom: Governance versus management. Int J Discl Gov 2, 348–356 (2005). https://doi.org/10.1057/palgrave.jdg.2040004
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DOI: https://doi.org/10.1057/palgrave.jdg.2040004