Summary of Excellence in the Boardroom

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Rating

9 Overall

10 Applicability

9 Innovation

8 Style


Recommendation

That creaking sound you hear is Bill Dimma closing the barn door after Enron already got out. Dimma sounds a late, but nevertheless critical, wakeup call for U.S. corporations: They must institute policies of sound corporate governance at the board of directors level if they are to succeed and survive. About 80% of Fortune 500 companies combine the roles of chairman of the board and CEO, violating Dimma’s rule number one - separate powers. getAbstract.com recommends that the management and directors of every one of these companies read Dimma’s book and implement the measures that he prescribes.

In this summary, you will learn

  • How and why many boards of directors have failed in their responsibility of providing corporate governance;
  • How to define the proper relationship between management and the board of directors, and
  • Procedures that you can implement in your own company to improve the effectiveness of your board.
 

About the Author

William Dimma has served on the boards of Capstone Investments, American Eco Corp.; Home Trust Co., Magellan Aerospace, Monsanto Canada, Polysar Chemical, Sears Canada, London Life Insurance, Toronto Star Newspapers and Union Carbide Canada and about 40 other companies.

 

Summary

Begin With A Vision
What would an ideal board of directors look like - a board that could rescue a company from poor decision making or an Enron-like fiasco before it ever happened? Here’s a vision of the ideal board: The Chairman of the Board and CEO are different people. Many...

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