Effective Executive Journal
Board Leadership, Crisis Governance and Governance in Crisis

Article Details
Pub. Date : Sep, 2019
Product Name : Effective Executive
Product Type : Coaching and Mentoring
Product Code : EECM31909
Author Name :Colin Coulson-Thomas
Availability : YES
Subject/Domain : Management
Download Format : PDF Format
No. of Pages : 17

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Abstract

Many directors and boards face challenges, difficult situations, multiple threats and related opportunities. Some of them are shared, interrelated and multifaceted. They impact upon many areas of corporate operation, supply and value chains, a variety of stakeholders and wider communities. Unlike situations that might suddenly and unexpectedly arise, some of the threats have also been long predicted. They represent a challenge for board leadership, and they need to be addressed by a combination of activities by multiple parties over a longer time period than emergencies that may have been quickly tackled by crisis management teams in the past. They raise questions about the adequacy of crisis governance arrangements, how directors should prepare for crises and handle them, and whether there is also a crisis in corporate governance in terms of the ability of current approaches and practices to cope with crises in the contemporary business and market context and environmental sustainability and climate change challenges that require collective and collaborative responses.


Description

People who accept directorial appointments to corporate boards should expect to face challenges and difficult situations. In an area such as insolvency, arrangements to protect creditors invariably exist in Company Law frameworks.

There are insolvency practitioners and other specialists to whom directors can turn. Other categories of challenge may apply more generally to all or most companies, whether difficult trading conditions or the impact of so-called disruptive technologies. Should the term crisis be used in relation to the latter, when past generations of technological breakthroughs such as the steam and internal combustion engines were largely perceived as enabling and transformative? Its use may be more legitimate in relation to widely recognized challenges with serious consequences for people across the globe and for the planet, especially if there is a window of opportunity but many corporate and other responses appear slow and/or inadequate (Stern, 2015; and UNEP, 2019).


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