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The Governance Revolution by Deborah Midanek

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Chapter 33 Survive Success and Relentlessly Build Resilience

In my experience the company is most vulnerable when the money is rolling in. It is human nature to relax then, and way too easy for all parties to become complacent and take their eyes off the ball. We know what happens when management and boards fall asleep. All kinds of pathologies can be growing. We do not want our company to disappear, but instead to flourish.

To do that we as the board must ensure that we are constantly working to exemplify and build a corporate culture that is resilient, able to both acknowledge and learn from mistakes, and driven by enduring values that go beyond the value of the dollar. In the wonderfully apt statement of economist Hyman Minsky, “stability ...

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