Owning Up: The 14 Questions Every Board Member Needs to Ask

Ram Charan

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YOUR WORLD AS A DIRECTOR HAS SUDDENLY CHANGED. YOU’VE SEEN MEMBERS OF OTHER boards take the heat when their companies imploded. The managements of Lehman Brothers, Bear Stearns, Merrill Lynch, and Washington Mutual clearly failed, but so did their boards. Now the board of every company beset with problems is coming under scrutiny.

The pressure is on. Your board must own up to its accountability for the performance of the corporation. Governance now means leadership. Boards must change their modus operandi to address the new and complex issues that are emerging. These include

  • ENSURING LIQUIDITY IN THE CONTEXT OF THE GLOBAL FINANCIAL CRISIS
    • SETTING CEO PERFORMANCE TARGETS IN A VERY UNCERTAIN ECONOMY
    • ASSESSING STRATEGY AND ENTERPRISE RISK UNDER EXTREME VOLATILITY

    So what should boards do now? What should they be talking about in their meetings and executive sessions? What decisions must they make? How assertive must they be regarding company priorities and operating goals?

    In Owning Up, business advisor and corporate governance expert Ram Charan answers these and other burning questions on the minds of directors and business leaders. He describes best practices that are emerging in boardrooms he has observed firsthand. And he provides practical recommendations on a range of issues, from compensation to dealing with external constituencies. Wisely attuned to the human side, he confronts the need for some boards to refresh their composition and for others to rebalance their board dynamics.

    Directors, CEOs, general counsels, and operating executives will find here the guidance they need to meet the new and rising standards for corporate governance in this demanding business environment.

What will you learn from this book

  1. Ownership Mentality: Cultivating an ownership mindset involves taking responsibility for actions and outcomes rather than assigning blame or waiting for direction.

  2. Accountability: Embracing accountability means holding oneself and others answerable for results, fostering a culture of responsibility within an organization.

  3. Decision Making: Effective ownership involves making informed decisions confidently, even in uncertain situations, and being ready to adjust based on feedback and new information.

  4. Leadership Communication: Clear and transparent communication is vital for fostering ownership, ensuring that goals, expectations, and responsibilities are understood by everyone involved.

  5. Problem-Solving: Taking ownership often requires a proactive approach to problem-solving, addressing issues promptly and effectively to prevent escalation.

  6. Continuous Learning: Embracing a mindset of continual improvement and learning helps individuals and organizations adapt to change and stay competitive.

  7. Risk-Taking: Being willing to take calculated risks is integral to ownership, as it often leads to innovation and growth.

  8. Empowerment: Empowering others by delegating responsibilities and providing necessary support and resources is a key aspect of effective ownership.

  9. Adaptability: Flexibility and adaptability are crucial in ownership, as it necessitates the ability to pivot strategies and tactics as circumstances evolve.

  10. Ownership Culture: Fostering a culture of ownership across all levels of an organization is essential for long-term success, where every individual feels accountable and empowered to contribute.

Language English
ISBN-10 0470397675
ISBN-13 9780470397671
No of pages 185
Font Size Medium
Book Publisher Jossey-Bass
Published Date 28 Aug 2009

About Author

Author : Ram Charan

17 Books

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