The governing board covers their ears, eyes, and mouth.
Because they hear and see no evil and speak no truth.
They are deaf, blind, and dumb--they provide no real oversight.
Simply choosing to collect their pay checks and stock options for residing on the governance board.
This is their payoff--not to govern--but rather to shut up and stay out of it!
I read a good overview of what governance is supposed to be and comparing it to management functions (Reference: Exam Preparation Course in a Book for Passing the CISM):
- "Oversight versus Implementation
- Assigning Authority versus Authorizing action
- Enacting policy versus Enforcing policy
- Accountability versus Responsibility
- Strategic planning versus Project planning
- Resource allocation versus Resource utilization"
When the board does their job, then the organization has a business strategy, manages risks, allocates resources, delivers value, and measures and monitors performance.
In other words, no more acting like a bunch of out of control monkeys. ;-)
(Source Photo: Andy Blumenthal)