The New 'How' Of Effective Board Governance

Much has been written in recent months about a "new era of responsibility" and the "changed rules" for corporate board service. Although well meaning, much of this discussion misses the point, because board members who look solely to the new laws and regulatory requirements will come up short.

In a certain sense, and it is perhaps one of our greatest ironies, it is our reverence for law that brought us to this point in the first place. We respect the law so much that we get overly attached to it: If the law says we can, then we will. In the end, our respect for law has been so great that we have confused legal permissibility with permission. We have failed to ask the follow-up question: not "can I do it," but "should I?"

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