Inside the Boardroom: Governance by Directors and Trustees

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Wiley, Jun 15, 1994 - Business & Economics - 208 pages
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"Bill Bowen’s powerful insights into the principles and practices of institutional governance make his new book ‘must reading’ for all board members." —H. B. Atwater, Jr. Chairman of the Board and CEO General Mills, Inc. "The ‘old boys’ club’ of the boardroom no longer works as companies and organizations re-engineer for the global challenge. Dr. Bowen’s thoughtful and incisive analysis of issues and his prescriptions for good governance are must reading for all responsible board members." —W. Michael Blumenthal Former Secretary of the Treasury and Limited Partner, Lazard Freres & Co. "This thoughtful, lively, and well-written comparison of the many similarities and striking differences in the governance of not-for-profit and for-profit corporations is a unique resource from which both sectors will benefit.… This valuable book, and in particular its twenty ‘presumptive norms’ to govern how boards function, will certainly establish a new and important agenda for management and directors." —Helene L. Kaplan Skadden Arps Slate Meagher & Flom "Dr. Bowen brings to Inside the Boardroom unusual qualifications: a distinguished economist who has served as university president, foundation executive, and [as a member of] several for-profit and nonprofit boards of directors. From this varied experience he combines scholarship with corporate reality in ways which provide wisdom, insight, and guidance as to how boards should work and how in fact they do work, and what they can and cannot contribute to management. Best of all, he does so in a thoroughly readable way." —Nicholas Katzenbach, Partner Riker, Danzig, Scherer, Hyland and Perretti Former United States Attorney General Former Senior Vice President and General Counsel, IBM Corporation "This superb study rests on Bowen’s extensive experience of both corporate and nonprofit boards and his personal qualities of lucidity, perceptiveness, intellectual acuity, and fair-mindedness. Readable, fresh, jargon-free, and thoughtful, the book is a gem." —Richard W. Lyman President Emeritus, The Rockefeller Foundation President Emeritus, Stanford University "William Bowen is the finest example of America’s meritocracy. He rose, by ability and wisdom, from Main Street to the highest counsel of business and philanthropy while gaining along the way admiration for scholarly innovations as an economist and leadership as President of Princeton University. In this short book he addresses—from experience and with analytical precision—the vital problem of how outside directors might help improve governance of business corporations and non-profit institutions. Read. Ponder." —Paul A. Samuelson Nobel Laureate in Economics Department of Economics, M.I.T.

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Contents

The Importance of Boards
1
The Functions and Activities of Boards
17
How Boards Are Constituted
39
Copyright

6 other sections not shown

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About the author (1994)

About the author WILLIAM G. BOWEN is President of the Andrew W. Mellon Foundation and former President of Princeton University. In addition, he has served as an outside director for American Express, Merck, NCR, Reader’s Digest, the Rockefeller Group, Inc., Denison University, the Public Broadcast Laboratory of National Educational Television, the Sloan Foundation, the Smithsonian Institution, the Wallace-Reader’s Digest Fund, and the Center for Advanced Study in the Behavioral Sciences. He is also the author or coauthor of twelve other books, including In Pursuit of the PhD, The Economics of Labor Force Participation, The Wage-Price Issue: A Theoretical Analysis, and Performing Arts: The Economic Dilemma.

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