Board Of Directors Obsolete?
Justin Fox wonders if the board of directors model is outdated.
I do not think so. As with all things there are real reasons for having a board – if you sufficiently leverage it as a resource. If it’s a rubber stamping mechanism for the CEO or a holding place for friends and family – you’re doing something wrong.
Additionally Fox offers two ways out – corporate monarchy or mass direct democracy.
There’s a third option – flatten and use the current system.
Some morning blue sky:
An internal blogging/wiki network for shareholders to discuss ideas, innovations and suggestions that the directors can directly engage and get to the top levels of management.
Taking it even farther – take it to stock brokers and leverage them and their customers via the directors.
-Shlok
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