The governing board covers their ears, eyes, and mouth.
Because they hear and see no evil and speak no truth.
They are deaf, blind, and dumb–they provide no real oversight.
Simply choosing to collect their pay checks and stock options for residing on the governance board.
This is their payoff–not to govern–but rather to shut up and stay out of it!
I read a good overview of what governance is supposed to be and comparing it to management functions (Reference: Exam Preparation Course in a Book for Passing the CISM):
- “Oversight versus Implementation
- Assigning Authority versus Authorizing action
- Enacting policy versus Enforcing policy
- Accountability versus Responsibility
- Strategic planning versus Project planning
- Resource allocation versus Resource utilization”
When the board does their job, then the organization has a business strategy, manages risks, allocates resources, delivers value, and measures and monitors performance.
In other words, no more acting like a bunch of out of control monkeys. 😉
(Source Photo: Andy Blumenthal)