I by IMD Didier Cossin: High performance boards
Dec 18, 2024
Didier Cossin, Chaired Professor of Governance and Finance and founder of the IMD Global Board Center, shares insights from his new book, "High Performance Boards." He discusses the critical role of governance in decision-making. Cossin details the four pillars of governance—people, information, structures, and culture—and how they intertwine. He identifies key areas of board failure and the psychological dynamics that make change difficult. Lastly, he emphasizes the need for boards to adapt to geopolitical challenges and offers practical risk management strategies.
AI Snips
Chapters
Books
Transcript
Episode notes
Governance Is Decision-Making
- Governance is the art of decision-making at the top of an organization and is distinct from compliance.
- Boards are central actors but governance can also involve owners and executive teams.
Four Pillars Of Board Performance
- High-performance boards rest on four pillars: people, information, structures/processes, and culture/dynamics.
- Missing any pillar creates a major hole in board effectiveness.
Breakfast With Union Leaders
- Stephen Lee, chairman of Singapore Airlines, had breakfast with union leaders to gather informal insights.
- That informal information helped the board understand frontline perceptions beyond formal reports.
