MIT Sloan Management Review Article on Boards Can Guide Businesses Through a Crisis

Boards of directors are uniquely positioned to help management teams plot a path through and beyond the current crisis.

The coronavirus pandemic is a crucible moment for management teams and their boards of directors. Companies that can respond in real time to rapidly shifting challenges while accelerating longer-term strategies will most likely stand as beacons on the battered landscape of the post crisis economy.

Boards of directors are in a unique position to help management teams achieve this balancing act—by focusing on immediate fundamentals while keeping their eyes on the horizon. Being removed from day-to-day operations, independent directors can help management teams battling in the fog of war to pinpoint the critical factors for survival while uncovering opportunities that will allow the company to emerge stronger in a radically reshaped world.