TITLE

UNDERSTANDING THE ROLE OF BOARDS IN CONTEMPORARY ORGANIZATIONS

AUTHOR(S)
ZILBERG, T.
PUB. DATE
July 2013
SOURCE
Managerial Challenges of the Contemporary Society;2013, Issue 6, p174
SOURCE TYPE
Conference Proceeding
DOC. TYPE
Article
ABSTRACT
Roles and responsibilities of boards of directors (BoDs) in contemporary organizations are continuously changing as a result of global or local increased regulations, as well as a response to financial and ethical scandals, irregularities in management, heightened societal expectations, demands for stakeholder engagement and shareholder activism. BoDs are widely varied - they can be of one tier type or two tiers type; they can demand separation between CEO and the Chair - or not; they can include or exclude employees' participation; and they can vary in many other ways. This confusing reality is further complicated by findings that two core managerial groups - directors and senior managers - have only a limited understanding of boards' roles and responsibilities and do not share unified expectations from the board and its activities. It is suggested that this reality might impair the ability of the board to contribute to improved level of management, accountability and social responsibility (SR) of the organization. It is further suggested, that there is need for a new comprehensive framework for BoD's conduct, in which the familiar roles of monitoring and advising management will be strengthened with wider and overreaching roles that will enable boards to take active part in the improvement of market conduct and SR.
ACCESSION #
95589877

 

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