Recently, bad practices caused a client’s accounts receivable to get extended well past 90 days. In fact, the client had 20% of its receivables dated further back than 120 days. Company staff knew that much of that would prove to be uncollectible, but no one really knew the extent of how bad it was. At […]
Someone once told me that, “Feedback is the breakfast of champions.” We have all seen how constructive feedback improves performance and helps employees to avoid mistakes. The challenge is getting actionable feedback to people early enough for them to use it effectively. In a private company, designing board evaluations can be an efficient way to […]
Private Company Board Strategies Create Advantage Strategy has been defined as the art of finding an unfair competitive advantage in the marketplace. It is implemented through defined objectives, strategies and tactics. Whether public or private, driving strategy is how boards create value. Public companies tend to have well-staffed strategy groups, of which M&A is one […]
Whether a company is public or private, the mission of its board of directors is to provide leadership in four key issues: strategy, capital structure, succession planning, and risk management. While regulators will enforce matters at public companies, outside directors are often the only external force to drive change at private companies. So long as […]
The value of a high-performing board of directors is obvious when the process is well managed.
Directors must protect their shareholders’ tangible and intangible assets, regardless of the form of the threat. Directors need to initiate protective actions and provide on-going oversight for cybersecurity.