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Masters of Scale with Reid Hoffman - Ariel Investments’ Mellody Hobson: Build a...
source link: https://nextbigwhat.com/ideas/masters-of-scale-with-reid-hoffman-ariel-investments-mellody-hobson-build-a-better-board
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Long-term outlook for the company
- Experience on other boards is not always necessary for strong board performance. New board members should be brought up to speed, and traditional thinking on board experience should be re-evaluated for greater board diversity and success.
- Select board members who can provide evidence-based assessments, approach with humility, share concerns with the CEO, and trust the CEO's decisions. Look for individuals who take the long view and offer valuable insights and direction to the company in a collaborative and reflective manner.
- For a company to survive in the long term, the board needs to provide perspective on risks and opportunities, maintain a strong connection with management, and avoid making decisions solely from an investment standpoint.
- Selling the company may be a better option than replacing the CEO in the early stages.
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