MGSF and the Three Boards

Abstract

This chapter reviews the entire Mission-Goals-Strategies-Fundamentals framework (MGSF), underlining once more its central importance for a firm’s value creation. The chapter shows how successful corporations implement value-creating concepts through the synergistic use of the three boards: owners’ board, corporate board, and business board. The distinction between the three boards is often foggy due to confusion as to their distinct roles. This lack of clarity is at the root of a great number of governance inadequacies and pathologies and also turns a potential synergy into a needless and soon emotional confrontation of power and authority.