Boardroom INSIDER for… JUNE
WHY DO CORPORATE BOARDS SUCK AT PREDICTING THE FUTURE?
Good corporate board members ask compelling questions, but the June issue of online monthly Boardroom INSIDER notes that one of the most common and frustrating queries directors raise has no good answer – why is it so hard for boards to spot future trouble for the company?
The material in most board books and online board portals is usually “quite good and comprehensive,” writes BI publisher and board trainer Ralph Ward. But “most of it is backward looking” – financials and medians from the last quarter, or even the last year. While this meets immediate corporate compliance demands, “it sucks for predicting the future.”
Ward challenges directors to dig out their past board briefings for a reality check on whether any of the intel raised the potential for global pandemics, shortages, logistical nightmares, or soaring inflation. Even if mega-trends are hard to predict, board info from within the company that should spot potential financial upsets, fraud, unseen risks, or the downside of planned business moves “badly foresees the future.”
Articles in the JUNE issue of BI include:
- How to build a board ESG committee.
- How your governance can (and must) grow with the company.
- Q&A: Fighting back on sleepy board meetings.
CONTACT: Tel 1+989-833-7615 or via email
Ralph Ward’s latest book, Board Seeker: Your Guidebook and Career Map into the Corporate Boardroom (Business Expert Press) gathers 20 years’ experience in board counseling and research to give “board wannabes” the steps and insights needed to craft a successful board search campaign.
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