Description

• Title:
  Searching for a Perfect Composition for a Board of Directors
• Creator:
  Hernik, Joanna;
  Vera, Antonio Minguez
• Description:
  Background: When one hears that company X achieved success, adopted a strategy, or struggles with difficulties, there is always a company board behind this news. Typically, a company board is a reflection of decisions taken by the owner; in practice, there is no rule as to how to appoint a company board. However, if we consider the long-term interest of the company, we may suggest a few ideas that will allow the company to better adapt to the market; they may also help to build the competitive advantage and have a positive impact on the company’s market position. This article presents a belief that the company board composition should evolve from merely reflecting the goals of the owner and the professionalism of the members, into a board, whose structure reflects employees and the market in which the company operates. This approach stems from the need to adapt to the market condi-tions, which is easier when the process of change starts with the company board. To illustrate these ideas, a fictitious example of a limited liability company will be used, for which we developed various board models based on the market situation.Purpose: The aim of this article is to develop a new approach to board of directors’ creation, through the lens of decision-making theory, sustainable development and business performance.Design / methodology / approach: To build a new model of a board of directors, a critical-realistic approach was used along with a case study of a fictitious limited liability company. Hypo-thetical-deductive technique was a base of the analysis.Findings: Conceptual models of a board of directors – which reflected human capital of the company and market structure – were developed.Research and practical limitations/implications: A guidance for businesspeople on how to compose a board of directors is provid-ed. As this is a theoretical work, it may be a base for future market/ real testing of the presented ideas.Originality/value: The article responds to a lack of research and wider works on connections between a board of directors and developing company performance, so this paper will be of par-ticular value to those involved in the appointment of directors. In conclusions, we propose how to create better boards of directors.Paper type: Conceptual article.
• Object availability:
  free access
• Rights:
  Prawa autorskie (c) 2017 Journal of Corporate Responsibility and Leadership
• Date:
  2017.06.30
• Type:
  info:eu-repo/semantics/article;
  info:eu-repo/semantics/publishedVersion;
  Recenzowany artykuł
• Language:
  English
• Source:
  Journal of Corporate Responsibility and Leadership; Vol. 4 No. 1 (2017): Human Resources and Diversity Management; 19-38;
  Journal of Corporate Responsibility and Leadership; Tom 4 Nr 1 (2017): Human Resources and Diversity Management; 19-38;
  2392-2699;
  2392-2680
• Format:
  application/pdf
• Publisher:
  Nicolaus Copernicus University in Toruń
• Relation: https://apcz.umk.pl/JCRL/article/view/JCRL.2017.002/13740
• Subject:
  board of directors;
  changes;
  corporate governance;
  human resources;
  market
• Identifier: https://apcz.umk.pl/JCRL/article/view/JCRL.2017.002
• Data provider:
  Akademicka Platforma Czasopism
• Can I use it?:
  seek permission
• Type:
  other