6 Items for the Top of Every Board's Agenda

The role of boards of directors is in the spotlight. Can boards do a better job at protecting their companies? There's certainly good reason to think so. Today, some experts are calling for tougher regulations on boards and a larger role for shareholders in key strategic decision-making. Others advocate for more professional board directors. Neither of these solutions is enough. What is needed is a clearer vision of the firm's overarching purpose, as well as aligning and measuring its long-term success. Also required is a drastic rethink of how the board can add long-term value to the company it serves. Such changes will be necessary not only to shape up corporate governance practices, but also to safeguard the future of capitalism itself.