Books: Boardroom in BalanceBy
Corporate Concinnity in the Boardroom by Nancy Falls is a useful introduction to the inner workings of the corporate boardroom and an exploration of optimizing the relationship between management and the board. Management accountants, like all other employees, ultimately report to the board of directors, who are engaged to represent all stakeholder interests of a corporation.
While the focus is often only on their fiduciary interest to shareholders, the typical board has broader obligations, such as working with the CEO to create optimal results, ensuring strong governance, and enforcing compliance with all related laws and obligations. “Concinnity” here describes an elegant new framework for the smooth, harmonious integration of the board and the C-suite and the structure required to achieve alignment and effective performance.
Falls brings her knowledge from more than 30 years of board governance and corporate leadership experience in and out of the board room. She offers a number of tips and best practices drawn from real-life experiences. She gives practical guidance for how to work together, how to align the interests of the board and the C-suite team, how to ensure that the board members stay in their lanes, what information is needed and what may not be, and how to work with advisors in general. She makes the case for engaging coaches for both boards and CEOs, arguing that they’re needed even more for senior leaders than mid- and entry-level functional teams.
This primer is a great guide for any company leadership team and its board of directors. A board composed of experienced and engaged advisors who work as a team with agreed-upon goals and responsibilities benefits all stakeholders and employees.