From reading the literature, do you agree with the ‘Recipe for a good board’ proposed in this chapter? Would you prefer a different set of ‘ingredients’? Compile your own list, explaining which ‘ingredients’ you consider to be the most important.

A

I believe that the recipe for a good board illustrated in J. Solomon’s book “The Role of Boards in Corporate Governance” is appropriate. Based on my assessment, the list contains good and necessary ingredients for making a good board. The list of preferences might be different, but the combination leads to the same desired result, which is to have a good board. My list of preferences with respect to the recipe for a good board is listed below.

  • The board should be held responsible and have authority.
  • The board should have effective communication within and outside the company.
  • The board should maintain the integrity and embrace business ethics.
  • Board members should maintain the balance of power.
  • No individual should dominate during decision-making, and all views should be considered.
  • Board members should be accountable for the financial records of the organization.
  • The board members should have frequent meetings when necessary.
  • The board should embrace new ideas and not resist change in the management of the company.
  • The board members should adopt a holistic approach to management.
  • The board should deal with the dynamic nature of business and must understand the business well and the risks involved.

Based on the above list, I believe that the most important ingredients of the making of a recipe of a good board are accountability, responsibility, authority, integrity, good decision-making, and the ability to embrace new ideas.

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Academic.Tips. (2021) 'From reading the literature, do you agree with the ‘Recipe for a good board’ proposed in this chapter? Would you prefer a different set of ‘ingredients’? Compile your own list, explaining which ‘ingredients’ you consider to be the most important'. 2 July.

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Academic.Tips. (2021, July 2). From reading the literature, do you agree with the ‘Recipe for a good board’ proposed in this chapter? Would you prefer a different set of ‘ingredients’? Compile your own list, explaining which ‘ingredients’ you consider to be the most important. Retrieved from https://academic.tips/question/from-reading-the-literature-do-you-agree-with-the-recipe-for-a-good-board-proposed-in-this-chapter-would-you-prefer-a-different-set-of-ingredients-compile-your-o/

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Academic.Tips. 2021. "From reading the literature, do you agree with the ‘Recipe for a good board’ proposed in this chapter? Would you prefer a different set of ‘ingredients’? Compile your own list, explaining which ‘ingredients’ you consider to be the most important." July 2, 2021. https://academic.tips/question/from-reading-the-literature-do-you-agree-with-the-recipe-for-a-good-board-proposed-in-this-chapter-would-you-prefer-a-different-set-of-ingredients-compile-your-o/.

1. Academic.Tips. "From reading the literature, do you agree with the ‘Recipe for a good board’ proposed in this chapter? Would you prefer a different set of ‘ingredients’? Compile your own list, explaining which ‘ingredients’ you consider to be the most important." July 2, 2021. https://academic.tips/question/from-reading-the-literature-do-you-agree-with-the-recipe-for-a-good-board-proposed-in-this-chapter-would-you-prefer-a-different-set-of-ingredients-compile-your-o/.


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Academic.Tips. "From reading the literature, do you agree with the ‘Recipe for a good board’ proposed in this chapter? Would you prefer a different set of ‘ingredients’? Compile your own list, explaining which ‘ingredients’ you consider to be the most important." July 2, 2021. https://academic.tips/question/from-reading-the-literature-do-you-agree-with-the-recipe-for-a-good-board-proposed-in-this-chapter-would-you-prefer-a-different-set-of-ingredients-compile-your-o/.

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"From reading the literature, do you agree with the ‘Recipe for a good board’ proposed in this chapter? Would you prefer a different set of ‘ingredients’? Compile your own list, explaining which ‘ingredients’ you consider to be the most important." Academic.Tips, 2 July 2021, academic.tips/question/from-reading-the-literature-do-you-agree-with-the-recipe-for-a-good-board-proposed-in-this-chapter-would-you-prefer-a-different-set-of-ingredients-compile-your-o/.

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