How involved in management should your board be? Experts often have very strong beliefs and feelings about what should be the extent of involvement of Board members in making top-level policies versus in implementing those policies in the day-to-day affairs of the organization. Those experts usually assert that Board members should attend primarily to the …
Starting a Business/
Business Laws & Ethics
Will Beneficial Ownership Registers Become Global?
Will beneficial ownership registers spread around the World? Governments have become more and more focused on the risks posed by opaque and confidential corporate structures. In particular the ability of a certain type of person to use such structures to hide the true ownership and origin of funds, thereby facilitating tax evasion and money laundering. …
When you ask Board members if they’ve been trained, it’s not uncommon that they’ll answer, “Yes”. But many times, they’ll be wrong. Board Orientation Board orientation is about the unique aspects of the organization. It might include introductions and team building among Board members, overviews of the organization’s products and services, celebration of the organization’s …
Talking with Mr. Blankfein About Placing Ethics First From the Wall Street Journal on May 5, 2010: “Frankly, at this point, we have to go with an open mind and determine what we may be doing wrong,” Mr. Blankfein told customers of its private-wealth-management business during a 30-minute conference call. “On a very microscopic level, …
Today in Boston the Board of Beth Israel Deaconess Medical Center today fined chief executive Paul Levy $50,000 for engaging in a personal relationship with an employee that over time “created an improper appearance and became a distraction within the hospital,” according to a statement by Board Chairman Stephen Kay. Mr. Levy has had a …
An Advisory Board (or Advisory Council or Advisory Committee) is a collection of people formed to advise members of a governing Board of Directors. The Advisory Board does not have formal authority. It cannot issue directives that must be followed as is the case with a governing Board. There seems to be an increasing number …
The issues surrounding Goldman Sachs highlight many of challenges facing the business ethics industry. There has been a public furor over the integrity of certain industries, such as finance, even though the leaders of those companies can state categorically that they acted legally, and ethically, within the guidelines they have worked within for some time. …
(The following post applies as much to for-profit Boards as nonprofit Boards — many for-profit Boards, especially in family-owned corporations, operate as working Boards.) A “working Board” is a personality of a governing Board. There is no clear delineation as to what’s a definitely a working Board or not. However, it’s commonly viewed as a …
