Although corporate governance researchers have devoted considerable attention to the role of boards of directors in monitoring management and providing resources, less attention has been paid to whether and how they affect the strategic actions of firms in response to changing environments. Taking a process-based perspective, we examine how several prevalent board processes affect the involvement of boards in strategic decision-making and how such involvement shapes organizational performance. Moreover, we offer an initial attempt to compare the strategic role of boards (...) in for-profit and non-profit organizations. An investigation of 217 for-profit and 156 non-profit organizations in Canada indicates that different processes lead boards to different levels of strategic involvement, and that such effects are contingent on the types of organizations concerned. Moreover, boards that are active in strategic decision-making enhance the performance of their organizations. Our findings have implications for board research and practice. (shrink)

Recent research by the author has established that boards have an important and significant role to play when it comes to their organisations' strategy and strategic planning process. But is there room for improvement? According to the directors that have participated in an ongoing research project, the answer is most definitely 'yes'. The current paper identifies and discusses the top 13 areas of improvement, which directors feel need to be addressed if their responsibility for strategy is to be exercised properly. (...) The author's findings point especially to the types of practices that modern boards need to follow if they are serious about getting the maximum benefit from their engagement with management in an organisation's strategic planning process. (shrink)

This paper presents a preliminary progress report into the governance role that boards play (and should play) in the strategic planning process. It reports on whether the nature and degree of their involvement (or lack thereof) in certain strategic planning activities is positively associated with selected performance outcomes. The findings indicate that, surprisingly, a board's involvement in reviewing and discussing its organisation's financial statements may not be adding the kind of value that organisations look to receive from their board of (...) directors. (shrink)

This article presents the findings from an exploratory empirical research investigation that assessed the content of selected Board Charters for 118 publicly traded companies listed on the TSX/S&P Composite Index. The Board Charter is considered to be the starting point in a Board's quest for creating a state of good governance within its organisation. However, the specific content of what a Board Charter actually contains has largely remained a mystery. The current study, therefore, was designed to identify what a typical (...) Board Charter looks like as well as determine the frequency with which various Board Charter elements are contained in them. Interestingly, this is the first study of its kind to shed light on the nature and content of this often confidential document which has only recently come into greater use. (shrink)