Boards must challenge traditional thinking and shape the future

The boards of many companies damage corporate prospects and miss opportunities to benefit investors, customers and employees, according to a continuing investigation at the University of Lincoln. Speaking at the IOD Convention 2007, Professor Colin Coulson-Thomas, author of ‘Shaping Things to Come’ argues that boards need to think and act differently if they are to improve their own performance.

"Despite codes of governance best practice the boards of many companies still waste resources, cripple corporate potential and destroy shareholder wealth," says Professor Coulson-Thomas, "They are looking over their shoulders at others, copying and playing catch up rather than shaping the future".

The Professor warns than corporate governance considerations can lead to an excessive focus upon internal processes while external opportunities are overlooked. "Corporate performance depends primarily on what boards actually do and how their members behave rather than on formal governance considerations such as a board’s committee structure."

If they are to add more value, make a greater contribution to corporate growth and create a better tomorrow Coulson-Thomas believes: "Boards must challenge conventional thinking and question current practices." Exercises and checklists in his book ‘Shaping Things to Come’ are designed to challenge traditional thinking and help entrepreneurs create distinct offerings, establish new markets and provide customers with additional choices.

‘Shaping Things to Come, strategies for creating alternative enterprises’ (ISBN: 1 901657 87 6) by Colin Coulson-Thomas is published by Blackhall Publishing and can be ordered from http://www.ntwkfirm.com/colin.coulson-thomas/books/shaping2.htm

Details of reports presenting critical success factors and winning ways identified by Prof. Coulson-Thomas’ research programme and related bespoke benchmarking reports and workshops can be obtained from http://www.winningnewbusiness.biz/

Professor Coulson-Thomas has helped over 100 boards to improve board or corporate performance, is the author of some 40 books and reports and has spoken at over 200 major conferences in 35 countries. He can be contacted by Tel: 00 44 (0) 1733 361 149 or email: colinct@tiscali.co.uk and via http://www.adaptation.ltd.uk