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

Owning Up 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.

About the Author :
Ram Charan is a world-renowned business adviser, author, teacher, and speaker who has spent the past forty years working with the CEOs, boards, and executives of the world's top companies. He is the author or coauthor of twenty-five books that have sold over four million copies, including Boards That Lead and Talent Wins (both coauthored with Dennis Carey). In addition to advising and coaching leaders, Charan serves on several boards in the United States, Turkey, China, India, and Brazil. In his work as an adviser, he has helped boards and senior leaders rethink and redesign their governance practices. Scott Peterson is an actor experienced in theater, modern dance, and voice-over. He is an enrolled member of the Heron Clan of the Cayuga Tribe of the Six Nations of the Iroquois.

Review :
"As always, well-reasoned, insightful, and thought-provoking. A work that every director will find of value, particularly given the intense pressure of these unprecedented economic times." -- "Professor Charles M. Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware " "If Corporate America's board members had answered these questions, the crisis of '08 would have been avoided. The book is that powerful. It should be required reading in every boardroom, executive suite, and business school on the planet. This book with its singular wisdom could change the face of corporate governance--with huge dividends to shareholders and society." -- "Ralph Whitworth, principal, Relational Investors LLC " "Ram Charan always seems to get it right. Owning Up not only asks the right questions, it gives answers that can make a real difference for improving board performance." -- "James M. Kilts, former chairman and CEO, The Gillette Company " "This book is a most important contribution for both new and experienced directors, addressing contemporary corporate governance. The 14 practical questions represent the most vital issues that boards need to proactively address and are particularly crucial now as boards deal with the aftermath of the global financial tsunami." -- "Thomas J. Neff, chairman, U.S., Spencer Stuart "