Today's faster-paced business environment, shifting economic conditions, volatile capital markets, and rising demands for enhanced corporate governance, corporate accountability, and transparency in light of recent business failures, as well as new risks associated with a global marketplace, e-commerce, and evolving information technologies, all are propelling the board's role in corporate governance into the spotlight. These new demands require boards to be more involved, knowledgeable, and proactive.
The challenge today's boards face is finding the right level of involvement and the right approach in defining the company's strategic direction, and fostering long-term shareholder value growth while ensuring companies remain resilient to both internal and external pressures. In meeting this challenge, boards must decide:
- What is the optimum level and nature of involvement in strategic plans and implementation processes?
- What risks are on the horizon, and how can the company manage them and seize the inherent opportunities?
- How can executive performance best be motivated, measured, and monitored?
- How effective is the board? How can it improve?
PricewaterhouseCoopers is redefining the role of corporate governance by helping boards sharpen their focus on their primary responsibilities—understanding what they need to do, how to do it successfully, and what pitfalls to avoid.
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