Many corporate boards are taking a one-size-fits-all approach to management. Instead, they should consider that their main role is to move depending on various conditions, both internal and external. The boards have four main functions - audit, monitoring, mentoring, and steering - each with different points of view and behavior. Roles reflect two major differences in the board culture. The first type of card deals mainly with the interests of shareholders or the shareholders and other stakeholders' interests. The focus is on external factors. The second type of card or supervises the management or get actively involved in the conduct of the organization. Here the focus is on the processing of mismanagement. The main types of roles are not mutually exclusive, rather they reflect the different cultural council that due to different emphasis on decision-making and resource allocation. During any period of time, the Board must determine which of its dominant role should be, given the current conditions. "Hide
by Paul Strebel Source: MIT Sloan Management Review 10 pages. Publication Date: December 1, 2004. Prod. #: SMR127-PDF-ENG
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