I just re-read Peter Drucker's "Three Functions of the Board". As always, Drucker provides clear, seasoned counsel:
- The enterprise, first, does need a review organ. It needs a group of experienced people, people of integrity and stature, people of proven performance capacity and proven willingness to work, who counsel, advise, and deliberate with top management.
- An effective and functioning board is needed to remove a top management that fails to perform.
- Finally, the enterprise needs a ‘public and community relations’ organ.”