Abstract
Each board has three main tasks: (a) The competence to select the executive team and to manage the contractual relationship with them; (b) Supervising the activities and monitoring the performance of the executives; and (c) Advising the executive team. Supervision is typically an evaluation in retrospect. It does not influence the supervised action anymore. Advising, however, is an influence that precedes the final decision process. It can be of specific value and is therefore of high importance.
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Bibliography
Kormann, H. (2014). Die Arbeit der Beiräte im Familienunternehmen. Berlin & Heidelberg: Springer Gabler.
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Kormann, H., Suberg, B. (2021). The Difficult Task of Advising. In: Kormann, H., Suberg, B. (eds) Topics of Family Business Governance. Management for Professionals. Springer, Cham. https://doi.org/10.1007/978-3-030-58019-3_9
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DOI: https://doi.org/10.1007/978-3-030-58019-3_9
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