Toward a value-creating board
Published February 2016
The amount of time board directors spend on their work and commit to strategy is rising. But in a new survey, few respondents rate their boards as effective at most tasks or report good feedback or training practices.
Directors say they dedicate more time now to their board duties than ever before and that, since 2011, they’ve cut in half the gap between the actual and ideal amount of time they spend on board work. In the newest McKinsey Global Survey on corporate boards,1the results confirm that strategy is, on average, the main focus of many boards. Yet directors still want more time for strategy—more than any other area of their board work—when they consider its relative value to their companies.