Comments on: So, what’s a company board good for, anyway?

By: Michael O'Daniel

Michael O'Daniel — Thu, 13 Apr 2023 05:13:51 +0000

Thanks, Dave. Many of these same principles apply to nonprofit boards. I look forward to further articles that get into more detail about some of the areas you did not cover in this initial post.

Governance? What’s that? So many leaders in both the private and nonprofit sectors seem to want rubber-stamp boards as opposed to those who will actually engage in governance…

By: Ross Bjella

Ross Bjella — Tue, 11 Apr 2023 22:28:57 +0000

The ideal Board makeup depends upon the stage and needs of the company. Early stage companies need Board members that can help raise capital and make connections, to motivate the entrepreneur when s/he’s down, and talk with potential investors when needed. Once a company has moved past the “are we going to make it” stage, Board members are needed to ensure financial, security, regulatory, and compensation controls are in place so the entrepreneur doesn’t get into trouble about things s/he doesn’t know. After a company is public, the Board is there to protect the interest of the shareholders, which includes some of the above, and also to ask the “generative” and strategic questions you mentioned in the article based upon their deep business experience. Such Boards help leadership “see around corners”, getting the CEOs mind from being “in the business” to being “on the business.”

By: Dave Berkus

Dave Berkus — Tue, 11 Apr 2023 21:56:59 +0000

In reply to James M Reimers. Jim, thanks. I did guest lecture annually for Woody Studemund until his retirement last year. No-one teaches board governance! - Dave

By: James M Reimers

James M Reimers — Tue, 11 Apr 2023 21:03:56 +0000

Never heard so explicitly what a board does. This is wonderful information. I bet DeRycke would be figuring how to include you in lectures in the Econ/Business Department at Oxy.
Io Triumphe!