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Season 5 is live! New episodes every Monday and Thursday. This season, we’re exploring questions that directors need to *answer*. Are you a director, senior executive, investor, or someone who’s just curious about corporate governance? Tune in for insights about how things work inside and outside the boardroom, based on 20 years of experience and interactions with thousands of directors from around the world. Each episode lasts about one minute and will provide you with questions to ask yourself, your board and your management team, designed to optimize the way your organization makes decisions. Matt Fullbrook is a corporate governance researcher, educator and advisor located in Toronto.
Episodes
Thursday Jun 22, 2023
166. OK, maybe *do* just go with the flow (Condition #15: flexibility)
Thursday Jun 22, 2023
Thursday Jun 22, 2023
Yes, yes, I know it was only two episodes ago that I went on about being intentional about the cadence of decision-making. And I stand by it! Mostly. You see, being intentional isn’t the same as choosing a path and stubbornly sticking to it. Best laid plans blah blah. But here’s the thing: unexpected stuff happens! Yes you have laws and regulations and policies to follow (more on that later in the season) but those really only affect a little bit of the work of good governance. Here’s a trivial example: Your hip-hop technology company has 15 minutes allocated on the agenda for a discussion of the best albums of 2022. The board mostly agrees that Cheat Codes by Black Thought and Danger Mouse is a great album and deserves to be in the top 5 – maybe even #1. But a debate about whether Danger Mouse’s production style is brilliant, moody and lush or vaguely monotonous and bland leads to an idea for a potential new beatmaking interface – something earth shattering. And then the board chair interrupts, saying “OK time’s up! Let’s review this quarter’s strategic milestones.” It’s true that we agreed to a 15 minute discussion, and that we have lots of other work to do, and that the board’s oversight of strategy is an important part of their job. But let’s be real: who could fault you for just kinda saying “forget the agenda!” and diving into an idea that might revolutionize your company? Not the regulators. Not your General Counsel. Not anyone.
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