Mastering Global Corporate Governance

Corporate governance is the hot topic of the new millennium. Corporations need new systems of accountability to create the transparency that is now required. They need new ways to get staff and shareholders involved in decision making long-term, tools for creating wealth, tools for solving complex problems and ways of competing in global markets.The way to success is clear: boards need to clarify their role and build an effective framework for their accountability to owners. Unlike other books on the subject, Mastering Global Corporate Governance helps boards to investigate their inner workings. The authors argue that leadership is a key board responsibility and that good corporate governance lies in the strength of a corporate leader. Leadership means three things: setting the strategic direction, monitoring results and selecting and coaching the top team. Mastering Global Corporate Governance focuses on two 'burning issues' for senior executives and board members: How can the boards of global companies best lead their companies through the four fundamental dilemmas all boards face? The drive for shareholder value in global markets versus expectation of a society for the corporate licence to operate. Micromanagement versus detachment. Risk taking versus tight financial control. Eroding global boundaries versus national legal and cultural frameworks. How can boards, entrusted with ultimate responsibility for the way a company exercises leadership, provide that leadership? 'IMD's book on corporate governance will be helpful for business because it recognizes that governance is about leadership, not political correctness, because it shows on concrete examples how various governance models can be adapted to different strategies and business situations and because it suggests practical solutions to problems.' BERTRAND COLLOMB, CHAIRMAN & CEO, LAFARGE'IMD has a very impressive record of using its partnerships with business to ensure its research focuses on the realities of the business world. This book is a fine addition to that record and provides real practical insights into how business leaders can respond the key challenge of improving the governance of their organizations.'SIR PHILIP WATTS KCMG, CHAIRMAN OF 'SHELL' TRANSPORT AND TRADING CO., PLC, CHAIRMAN OF THE COMMITTEE OF MANAGING DIRECTORS OF THE ROYAL DUTCH/SHELL GROUP OF COMPANIES'Mastering Global Corporate Governance focuses on the most important challenges boards are now facing. This IMD book highlights the conditions and contexts to which every company - and every board - must respond consistently. The insights delivered into the "black box" of board leadership are enriching, thoughtful and can improve any board." JAN VON HAEFTEN, FORMER CHAIRMAN OF METRO AGSteger, Ulrich is the author of 'Mastering Global Corporate Governance', published 2004 under ISBN 9780470090411 and ISBN 0470090413.