New Corporate Governance

Successful Board Management Tools

verfasst von: Martin Hilb

Verlag: Springer Berlin Heidelberg

Buchreihe : Management for Professionals

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

Einloggen, um Zugang zu erhalten

Über dieses Buch

Martin Hilb presents an innovative and integrated approach to the theory and practice of corporate governance. Central to this approach is a set of instruments - developed and tested by the author - that can be used by boards to offer effective strategic direction and control to their organizations. The board instruments can be readily applied to the selection, review, remuneration and development of board members, and for conducting board self-evaluations. This new approach to corporate governance is based on four guiding principles: keep it situational, keep it strategic, keep it integrated, and keep it controlled. Together, these principles form the basis of an integrated approach to all key aspects of corporate governance. The main arguments in each section are supported by conceptual models, practical board tools or case studies, making the book ideally suited to board members, senior managers and post-graduate students.

Inhaltsverzeichnis

Frontmatter

Part 0. Introduction

Abstract

In recent years, the topic of corporate governance has gained prominence as a result of the large number of attention-grabbing corporate scandals at the board level. What was formerly a topic of interest to academics has become a burning issue worldwide for researchers and practitioners alike.

Martin Hilb

Part 1. Situational Dimension

Abstract

As a result of the many corporate scandals that have taken place around the world, best-practice corporate governance guidelines have been developed in most countries. Internationally, the biggest influence on these guidelines has come from the Institute of Directors (IoD)37 in London, through the advice they provide to other nations. Many countries that do not actually contract with the IoD for advice, nonetheless incorporate aspects of the IoD thinking in their best-practice guidelines.

Martin Hilb

Part 2. Strategic Dimension

Abstract

We propose four main preconditions for success in developing, implement ing and controlling corporate strategy (see Fig. 2-1): (1) Diversity: strategically targeted composition of the board team (2) Trust: constructive and open-minded board culture (3) Network: efficient board structure and (4) Vision: stakeholder oriented board measures of success.

Martin Hilb

Part 3. Integrated Board Management Dimension

Abstract

Based on analyzes of board practices carried our by the doctoral students, the following weaknesses have been found in the majority of the compa nies assessed: 1. insufficient board attention given to strategic direction 2. a lack of professionalism in selection, feedback, remuneration and development of board members and top management and 3. limited or irregular review of the performance of the board, coupled with insufficient strategic control and risk management by the board.

Martin Hilb

Part 4. Controlling Dimension

Abstract

In part one of this book, we dealt with the normative, legal and ethical contexts influencing corporate governance, following the motto “keep it situational.” In part two, we dealt with the strategic direction responsibilities of boards, based on the motto “keep it strategic,” and addressed issues such as board teams, culture, structure and strategic success measures. Then in the third part, we dealt with the integrated board management function through its responsibilities regarding selection, feedback, remuneration and development of board and management teams, based on book, we address the monitoring function of the board following the motto “keep it controlled.”

Martin Hilb

Part 5. Conclusions

Abstract

In conclusion, I want to highlight the implications for practice, teaching and research.

Martin Hilb

Part 6. Summary of the Book

Abstract

Based on the results of board evaluations conducted in various business sectors, the following main weaknesses of current corporate governance practices have bee n identified:

- most national corporate governance guidelines propose a “one size fits all” approach which is dangerous; it may support good govern ance, but it does not guarantee that the governance of a firm will be come great;

- there is a lack of strategic direction in much of board practice;

- board selection, appraisal, remuneration and development often lack integration and professionalism;

- and board level.

Martin Hilb

Backmatter

Titel: New Corporate Governance
verfasst von: Martin Hilb
Verlag: Springer Berlin Heidelberg
Electronic ISBN: 978-3-642-23595-5
Print ISBN: 978-3-642-23594-8
DOI: https://doi.org/10.1007/978-3-642-23595-5