The supervision of strategy and risk in German two-tier boards: lessons learned from the crisis Online publication date: Fri, 09-Aug-2013
by Marc Eulerich; Markus Stiglbauer
International Journal of Management Practice (IJMP), Vol. 6, No. 3, 2013
Abstract: The boards' role to supervise corporate strategy and risk determines the efficiency of 'good' corporate governance. Not only in the highlight of the financial crisis, board members, are challenged by a critical need for pro-active supervision. We examine the effects of the crisis on German supervisory boards' work and conclude first, which supervisory boards work in a pro-active way: They support the executive board in strategy development and implementation and try to anticipate the strategic development of the company. Secondly, boards change their meeting schedule immediately in case of a potential crisis. Thirdly, besides the focus on financial data, board members use other sources of information and a stakeholder perspective as an important source to supervise the executive board's work.
Online publication date: Fri, 09-Aug-2013
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