NACD Blue Ribbon Commission Report on Culture as a Corporate Asset
Click here to access the complete report with the toolkit included (complimentary download for NACD Full Board Members and NACD Fellows).
In Brief: Corporate culture can no longer be considered as a soft issue by management and boards. Its strength or weakness has a lasting impact on organizational performance and reputation. The oversight of culture must be a key board responsibility, as it is inextricably linked with strategy, CEO selection, and risk oversight. The NACD Blue Ribbon Commission Report on Culture as a Corporate Asset explores how boards can strengthen their oversight of corporate culture. The report provides 10 practical recommendations that boards can adopt to better assess the health of the corporate culture and use existing board responsibilities, such as executive compensation design and CEO evaluation, to drive the right behaviors.
This resource can help your board to
- understand why culture is critical to lasting business success;
- define and assess company culture;
- ensure that culture helps align company values and purpose with strategy and execution;
- ensure reward and performance evaluation systems reinforce the right leadership behaviors; and
- delineate the roles of the audit, compensation, and nominating & governance committees in the oversight of culture.
Most relevant audiences: directors of public, private, and nonprofit organizations; nominating and governance committee members; compensation committee members; CEOs; and management teams