MAKING CULTURE AN ASSET: The NACD recommends directors heighten their oversight of cultural risks.

Author:McCollum, T.
Position:Practices/Update - National Association of Corporate Directors - Brief article
 
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A National Association of Corporate Directors (NACD) report calls on boards of directors to apply the same risk oversight to culture as they give to other corporate risks. Directors "need to bring more clarity and rigor to our discussions with management about culture," says Helene Gayle, co-chair of the NACD Blue Ribbon Commission on Culture as a Corporate Asset, which produced the teport. Gayle, who is CEO of the McKinsey Social Initiative, says directors need an oversight approach that treats culture as a corporate asset.

The report recommends boards take action in six areas: board oversight responsibilities; boardroom culture assessments; CEO selection and evaluation; reward and recognition systems...

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