Governance in a Crisis: Were Boards Prepared?
“These are the times that try men’s souls…” Thomas Paine penned that line on December 23, 1776, but it is certainly just as appropriate in the Spring of 2020. Times are trying once again. Only this time, the enemy sneaked in during the night and took us hostage. Governments are being put to the test, but corporate America is as well. Reaction by corporate boards has varied from swift to deliberate, but most board members will tell you that their companies reacted to and managed the situation better than they prepared for it.
Reactive vs Proactive
Multiple articles on preparing for a pandemic have been published over the past fifteen years, the best of which may have been the series in the May 2006 issue of Harvard Business Review. More recently, in 2017, HHS published its most recent update on pa