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The Difficult Task of Advising

In: Topics of Family Business Governance

Author

Listed:
  • Hermut Kormann

    (Zeppelin University)

  • Birgit Suberg

    (Xi’an Jiaotong-Liverpool University)

Abstract

Each board has three main tasks: (a) The competence to select the executive team and to manage the contractual relationship with them; (b) Supervising the activities and monitoring the performance of the executives; and (c) Advising the executive team. Supervision is typically an evaluation in retrospect. It does not influence the supervised action anymore. Advising, however, is an influence that precedes the final decision process. It can be of specific value and is therefore of high importance.

Suggested Citation

  • Hermut Kormann & Birgit Suberg, 2021. "The Difficult Task of Advising," Management for Professionals, in: Hermut Kormann & Birgit Suberg (ed.), Topics of Family Business Governance, edition 1, pages 37-43, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-58019-3_9
    DOI: 10.1007/978-3-030-58019-3_9
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