| 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 |
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.
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).