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Engaging Boards in Corporate Direction-Setting: Strategic Scorecards

Author

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  • Drew, Stephen A.
  • Kaye, Roland

Abstract

Moves by regulators to drive governance reform have cascaded across the globe. The U.S. Sarbanes-Oxley Act and the U.K. Combined Code are leading examples. The article discusses how boards can contribute to strategic conversations and share responsibilities for strategic management with the CEO and top teams. We discuss how tools like balanced scorecards can align the focus of directors towards future opportunities and risks. It is suggested that boards adopt a strategic scorecard as implemented by CIMA1 to engage in strategy. This holistic framework provides a common language and structure for top-level decision-making and leads to enhanced performance for stakeholders.

Suggested Citation

  • Drew, Stephen A. & Kaye, Roland, 2007. "Engaging Boards in Corporate Direction-Setting: Strategic Scorecards," European Management Journal, Elsevier, vol. 25(5), pages 359-369, October.
    • Handle: RePEc:eee:eurman:v:25:y:2007:i:5:p:359-369
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    Cited by:

    1. Satish Kumar & Weng Marc Lim & Riya Sureka & Charbel Jose Chiappetta Jabbour & Umesh Bamel, 2024. "Balanced scorecard: trends, developments, and future directions," Review of Managerial Science, Springer, vol. 18(8), pages 2397-2439, August.
    2. Kumaresan, Renuga, 2019. "The Effects of Macroeconomics Factors towards the Starbucks Corporation," MPRA Paper 97243, University Library of Munich, Germany, revised 15 Nov 2019.

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