CHAPTER 9
STEP #6: DETERMINE HOW PROGRESS WILL BE MEASURED, MONITORED, AND REPORTED
The way I think about it—is our culture providing a competitive advantage? Is it enabling execution of our strategy? The flip side is risk, particularly risk related to conduct.
—BOB HERZ, FORMER CHAIRMAN OF FASB AND BOARD MEMBER AT FANNIE MAE AND MORGAN STANLEY
The National Association of Corporate Directors (NACD), which has been setting the standard for responsible board leadership for 40 years, published a remarkable report in 2017 titled “Culture as a Corporate Asset.” In it, the association laid the groundwork for improvements to corporate oversight for years to come.
“Boards should set the expectation with management that regular assessments of culture ...
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