Michelle Daisley, Partner, Oliver Wyman’s Financial Services Practice and Margarita Economides, Engagement Manager, Oliver Wyman’s Financial Services Practice
Is it possible to govern an organization fit for the third decade of the twenty-first century using a board model from the early twentieth century?
The pressures on boards and governance models to change are increasing, and directors are faced with two key challenges. First, boards must adapt governance to the needs and demands of an agile institution. Organizations of all sizes must increase their speed, adaptability and innovation to thrive in today’s dynamic global environment. This extends to board oversight and governance.
Second, boards are dealing with a growing number of mandates and a near constant onslaught of unpredictable events and tough scrutiny from regulators, activist investors, employees, commentators, politicians, and — most importantly of all — customers. Amid these pressures, board oversight is a complex balancing act as organizations safeguard core business, manage social responsibilities and develop innovative new propositions, all at an increasing pace.
This article, authored by Michelle Daisley and Margarita Economides of Oliver Wyman, Guy Carpenter affiliate, appeared on Marsh & McLennan’s BRINK.