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

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Owning Up: The 14 Questions Every Board Member Needs to Ask Review
Not a bad book. I kinda liked it. It reminded me of many of the questions that would pop up as I examined corporate board meeting minutes in large securities fraud cases I have worked on as an attorney. The book was not overly short (which has been a problem with this author recently), and I found it to be well written. Included is an introduction and 14 chapters as follows:
0. What Boards need to know
1. Is our Board composition right for the challenge?
2. Are we addressing the risks that could send our company over the cliff?
3. Are we prepared to do our job when crisis erupts?
4. Are we well prepared to name our next CEO?
5. Does our Board really own the company strategy?
6. How can we get the information we need to govern well?
7. How can our Board get CEO compensation right?
8. Why do we need a lead director anyway?
9. Is our governance committee best of breed?
10. How do we get the most value out of our limited time?
11. How can executive sessions help the Board own up?
12. How can our Board self-evaluation improve our functioning & our output?
13. How do we stop from micromanaging?
14. How prepared are we to work with activist shareholders & their proxies?
I was a little surprised about #3 above. I expected the question to read more like: "Are we doing all that is necessary so crisis does not erupt?" And #4 was a little off in my humble opinion, too. Why only be ready to name the next CEO? What about all the other important executive level officers that are critical to the running and operation of the company?
I was surprised there was not a chapter on conflicts of interest and appearances of impropriety. And I was surprised there was no chapter on whether the company does good internal audit work and the Board has a stellar audit committee.
All in all, I found this book to be a good read and certainly topical in today's economic and business environment where large corporations are being run by people who really don't know what they are doing for the good of the order. They do know what they are doing for their own benefit, though. The book's content is not earth shattering. Nor is it particularly long. If it were priced no higher that $22 I would not complain. But the suggested retail price of $29.95 seems a little steep to me. 4 stars!Owning Up: The 14 Questions Every Board Member Needs to Ask Overview

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