McKinsey - Governance since the economic crisis

Corporate boards are under pressure to take more responsibility for developing strategy and overseeing business risk after the financial crisis exposed many cases of inadequate governance.  Yet, according to the latest McKinsey Quarterly survey on governance, directors report that their boards have not increased the time spent on company strategy since their previous survey conducted in February 2008 – seven months before the collapse of Lehman Brothers.

“Corporate directors know what they should be doing.  But they haven’t raised their game since 2008 and must strengthen their capabilities and spend more time on board work ."

McKinsey Quarterly conducted an online survey in the field in April 2011 and received responses from 1,597 corporate directors across a full range of industries and company sizes.  Respondents were asked to focus on the single board with which they were most familiar.  Directors were asked to comment on how much time their boards spent on different activities, how well they understood the issues the companies faced and what factors they thought would be most effective in improving board performance.

Click here to download a copy of McKinsey Global survey results.

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