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Boards Acting Wisely: Be Different, Beyond Compliance

In: The Vulnerability of Corporate Reputation: Leadership for Sustainable Long-Term Value

Author

Listed:
  • Peter Verhezen

    (MBS - University of Melbourne
    University of Antwerp
    IFC - World Bank Group, Asia Pacific
    IFC - World Bank Group, Asia Pacific)

Abstract

Governance is more than compliance; it refects a culture or attitude that embraces consistency, responsibility, accountability, fairness, transparency and respect for shareholders’ rights and stakeholders’ concerns. Governance and reputation management are correlated. The more a board is able to fulfill its fiduciary duties of loyalties and care, the less reputational risk and possibly the higher the reputation of the organization. Good governance provides the check and balances to control risks and to prepare organizations to embrace opportunities. A board promotes and communicates the central idea of why the company exists and how the company will collaborate and compete ethically and win. Boards have evolved from rubber-stamping to monitoring and control, though some excellent boards are now taking a more active leading and coaching role.

Suggested Citation

  • Peter Verhezen, 2015. "Boards Acting Wisely: Be Different, Beyond Compliance," Palgrave Macmillan Books, in: The Vulnerability of Corporate Reputation: Leadership for Sustainable Long-Term Value, chapter 4, pages 94-108, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-54737-8_5
    DOI: 10.1057/9781137547378_5
    as

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