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Right People

In: Boardroom Secrets

Author

Listed:
  • Yılmaz Argüden

    (ARGE Consulting, Rothschild)

Abstract

The key to a successfully functioning board is the character and competencies of the people who make up that board. While the character requirements may be common, the competency requirements may vary depending on the issues facing the company. Nevertheless, there are some key competencies that are sine qua nons for board membership. As the board members have the fiduciary responsibility to guide and to provide oversight to the company as an ongoing concern, they have to not only protect the company, but also to ensure value creation for the stakeholders on a sustainable basis. They have to exercise judgment on such critical dimensions as risk vs. reward, short-term vs. long-term interests, effective oversight vs. motivating management, ethical considerations vs. market practices in different jurisdictions, and balancing the competing interests of different stakeholders.

Suggested Citation

  • Yılmaz Argüden, 2009. "Right People," Palgrave Macmillan Books, in: Boardroom Secrets, chapter 0, pages 1-15, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-24829-8_1
    DOI: 10.1057/9780230248298_1
    as

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