The Process of Great Governance
A board is a work group—senior, consequential, and privileged—but a work group nonetheless. As such, the determinants of its effectiveness are well known: people, structure, and process.
Work Group E[f_f]ectiveness
Directors themselves are surely the most important determinant of board effectiveness. Dean Gilbert R. Whitaker Jr., my boss at the University of Michigan, once remarked that if you have a great faculty, they attract great students. Gather them together under a tree and great education will occur. In general, I think the same is true of boards. Great directors will, most ...