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The Governance Revolution by Deborah Midanek

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Chapter 31 Recognize and Rectify Hazards of Board Process

As the Chinese proverb suggests, in every crisis, there is opportunity, and I take it a step further by desiring never to waste a single drop of the lessons learned and opportunities uncovered by that crisis. So now that we have reviewed the issues involved in facing difficult decisions, analyzing cash, assessing viability of various units, and dealt with the vagaries of moving through the recovery or sale process, let’s look at what we have learned. We know a great deal more about our company, our industry, and our liquidity and capital resources. Imagine, too, what we have learned about our colleagues on the board and in management.

Take a further step and imagine how communication among ...

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