How Boards Can Equip Themselves for Rapid Change
Association boards are often described as slow-moving ships
Associations are often described as slow-moving ships, but the message to their boards is increasingly clear: Step on it.
Among the latest reports making that point is Fit for the Future: An Urgent Imperative for Board Leadership [registration required], produced by the National Association of Corporate Directors (NACD). Its research says that 73 percent of corporate directors feel that board work is more challenging than it was three years ago, and 36 percent said that the accelerating pace of business is one of the key impediments to board effectiveness.
NACD CEO Peter Gleason suggests that organizations are starting to feel the friction between modern economic trends and corporate governance structures that were established centuries ago. “Operating in 21st century, the pace of change that we’re operating in with a model that is older requires that we rethink how we are comprising the board,” he says. “We need to rethink the various skill sets and talents that are there in order to be ready to make changes.”
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