Is your Company’s Board Working Hard Enough?

anagement consultancy McKinsey also suggested that directors should be prepared to increase their digital literacy and take a more hands-on approach to assessing long-term M&A threats and opportunities. “Our own experience is that the time required to do a good job is usually more than directors initially expect,” McKinsey said, citing a recent survey of more than 1,000 company directors that showed the most effective spend is an average of 41 days in their role. Deepening directors’ commitment is one of four pieces of advice it offers to CEOs, in addition to broadening the board’s scope of duties, clarifying directors’ responsibilities and creating a culture of trust between directors and executives. “Getting more deeply involved in strategy and other matters will require many board members to increase their digital literacy,” it argued.