Five Powerful Questions for your Board
Written by Anthony Demangone
A recent survey (McKinseyQuarterly.com) of corporate directors found that the “average” director knows far more about their company’s finances than they do about risks facing the corporation or the dynamics of the company’s industry.
Their findings are highlighted below:
The survey was not directed at the credit union industry, but the findings are still useful. How would your credit union’s directors stack up to the following five questions?
How well do you understand:
- Our credit union’s finances?
- Our current strategy?
- How we create value?
- The risks we face?
- The dynamics of our industry?