“Many boards have improved their structures and processes. But to become truly effective stewards of their companies, they must also instill the right mind-set and boardroom dynamics.
When it comes to well-functioning boards, best-practice structures aren’t enough. Without the right mind-sets and human dynamics between directors and management, boards will not be able to fulfil their potential.”
Simon Wong, an alumnus of McKinsey & Company’s London office, is a partner at London-based investment firm Governance for Owners; and adjunct professor at Northwestern University School of Law in Chicago and a visiting fellow of the London School of Economics and Political Science. Boards: When best practice isn’t enough was first published in the June 2011 issue of McKinsey Quarterly, the business journal of McKinsey & Company. The article has been adapted from Simon Wong’s working paper ‘Elevating board performance: The significance of director mind-set, operating context and other behavioural and functional considerations.
Click here to download a copy of Simon Wong's article.
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