IESE Insight. Issue 21. Second Quarter 2014

Boards need to close the rifts left by the crisis and be open to change, for the long-term success of business. Jordi Canals casts a clearer vision of the firm's purpose, calling for a drastic rethink of how the board can add long-term value. José M. Campa explains the trend toward greater transparency and an expanded role for shareholders. Gaizka Ormazabal and Allan L. McCall believe proxy advisors' voting recommendations need to be handled with care. Jay W. Lorsch admits that while there have been significant, positive changes in boardroom practices over the past 25 years, there is still work to do. Sheila Heen gives practical tips for improving the quality of feedback conversations between managers and subordinates. Felipe Caro and Víctor Martínez de Albéniz reveal the operational keys behind the fast-fashion business model. César Cernuda, President of Microsoft Asia-Pacific, discusses the shift from PCs to devices and services. How can Henkel achieve its bold sustainability targets without hurting operating profits? Edward Sinclair knows there's no room for negativity or complacency on the hard path to greatness in whatever your field.