Does Your Board Need an Outsider?

By: Mark Athitakis

Boards need deep knowledge of their industry and organization to govern effectively, but can too much "inside baseball" be a bad thing? Here's how one association brought a lay member to its board and benefited from the presence of an outside perspective.

Your board might seem like it's running smoothly and governing soundly, but sometimes it's not clear until after a big change that something important was neglected. When that happens, the results aren't pretty: Consumers in your industry are confused. Stakeholders are infuriated. If one of them had been in the room before the vote, perhaps you wouldn't be in this predicament....