Board Games

Straight Talk for New Directors and Good Governance

John T. Montford, Joseph Daniel McCool

• Publisher: Praeger
• Year: 2016
• Print ISBN: 9781440842528
• eBook ISBN: 9798216054948
• Edition: 1
• Topic: Business
• Subtopic: Management
• Index: Business

Succeeding in today's corporate and not-for-profit boardrooms is tougher than ever before, with new and established board directors facing myriad new and rapidly globalizing governance challenges. Directors and aspiring board candidates need a survival guide to beat the odds and avoid crises—the best credentials and the best of intentions aren't enough. This book is that guide. Board Games: Straight Talk for New Directors and Good Governance is an essential resource for any current or aspiring board director. It identifies the issues directors are most likely to face in today's rapidly changing, potentially hazardous business environments, offering candid, well-informed insights that address emerging issues, potential conflicts, and real-board situations. Readers will learn how to be more effective, more informed, and more diligent directors committed to the shareholders' best interests—even if that mindset challenges the interests of current management. This book shows new directors on any board how the current systems of financial reporting, regulatory compliance, and crisis management work, serving as a playbook that can help them serve the corporate good while protecting themselves—and do the right thing for shareholders, employees, customers, and communities they serve. The authors apply their extensive experience at the top of various corporations and nonprofit organizations to identify the behind-the-scenes, boardroom-culture issues that can trip up any director and demonstrate the critical importance of committing to the right governance, due diligence, and independent oversight.

Table of contents

• Cover
• Half Title
• Title Page
• Copyright
• Dedication
• Contents
• Foreword by Herb Kelleher
• Acknowledgments
• Introduction
• 1. How to Get Appointed to a Board When You’re Not a Household Name: Bring Something the Board Wants but Doesn’t Have
• 2. Putting Shareholders First … Not Last: The Case for Dividends and the Role of Independent Directors
• 3. The Hide and Seek Game of Corporate Finance: Understanding Balance Sheets and Corporate Economics
• 4. When Bad Things Happen to Good Boards: Protecting Shareholders and Your Reputation
• 5. Meeting Your Fiduciary Responsibility: Your Personal Declaration of Independence
• 6. The CEO as Board Chair: How Aligning or Separating These Roles Frames the Game
• 7. Getting CEO Search and Succession Right the First Time: Don’t Fumble the Handoff
• 8. The Audit Committee: The Board’s “Fire Department”
• 9. The Fantasyland of Executive Compensation: Directors Ought to Know How Much Is Too Much
• 10. Cybersecurity Is Every Director’s Business: Why Cyberattacks Are Existential Threats
• 11. The Leadership That Boards Need Now: The Most Critical Dynamics on Today’s Boards Are Human Ones
• Appendix I: Navigating the Morass of Corporate Jargon:  Don’t Choke on Alphabet Soup (A Glossary)
• Appendix II: Sample Balance Sheet
• Appendix III: Board and Committee Self-Evaluation Form
• Notes
• Index
• About the Authors