Better Boardrooms: Repairing Corporate Governance for the 21st Century
Published: November 2020© 2020
Imprint: Rotman-UTP Publishing
Page Count: 224 Pages
Illustrations: 5 figures
Dimensions: 6.30 x 9.25
224 Pages, 6.30 x 9.25 x 0.75 in, 5 figures
Disruptive change has clearly intensified in today’s fast-paced business world. Why are boards of directors so ineffective in dealing with the threats inherent in every corporate governance system? In Better Boardrooms, Donner Prize winning author Patricia Meredith zeroes in on how boards can help manage uncertainty. Meredith outlines the specific corporate strategies that should be implemented in order to reduce the tremendous waste of resources – financial, human, intellectual, social, and environmental – that occurs when companies fail to respond effectively to forces that are so obviously surrounding them.
To regain the reputation of boards as vibrant enablers of economic growth, Better Boardrooms proposes that a broad cross-section – including policy makers and regulators, customers, suppliers, bankers, and investors – work together to create a system better suited to the business obstacles of the twenty-first century. Discussing how the current corporate system is flawed and in desperate need of a digitally focused restructuring, Better Boardrooms proposes a new model of governance, one based on dialogue and collaboration that ensures all relevant voices are heard and included. As boundaries between industries blur and stakeholders gain greater access to information, it is vital that boards of directors help set corporate strategy rather than simply approve it.
Preface: What Got Me Started...
1. CIBC: A Fork in the Road
2. A Broken System
3. When Seeing Is Not Believing
4. Confronting Reality
5. What Boards Should Do, but Likely Won’t
6. Barbarians at the Gates
7. Transformation: Easier Said Than Done
8. The Information Age Changes Everything
9. A New Governance Model
Appendix A: Timeline for GE Post Trian Partners Presentation
Appendix B: Selected History of the Thomson Corporation
"We don’t appreciate good corporate governance enough – until we don’t have it. Drawing on examples from her extensive knowledge of corporate strategy and practice, Patricia Meredith provides an insightful account of what an ideal might look like. This is especially important during a time of transition in corporate cultures, grappling as they are with the wrenching changes brought on by digital technologies and the growth of the intangible economy, and by the imperative to consider not just the short-term interests of shareholders but the sometimes competing and sometimes complementary interests of stakeholders. A smart board would guide management to see and deal with what’s around the corner. Patricia Meredith does just this for the reader."Rohinton P. Medhora, President and CEO, Centre for International Governance Innovation
"As we consider the shape of business in a post-pandemic world, Better Boardrooms is crucial reading for both current and future directors to take their role of strategic governance and leadership to a new level."Barbara G. Stymiest, Corporate Director and Former Member of the Group Executive, Royal Bank of Canada
"This well written, highly readable book on strategic risk management and governance in this rapidly evolving digital age should occupy a prominent place on the bookshelf of every corporate director. Meredith makes a compelling case to replace the current ‘shackles of hierarchy’ with more networked forms of management and governance in order to deal with both the threats and the opportunities inherent in disruptive change."David Dodge, Senior Advisor, Bennett Jones LLP