01/25/2024

The Board's Focus in 2024

Boards need to examine their own structures

As a new year begins, a lot of staff leaders are understandably eager to hit the ground running. The good news is a lot of boards are too.

The National Association of Corporate Directors' 2024 Governance Outlook Report, published last month, suggests that board leaders are very eager to follow through on their strategic plans. According to NACD’s survey of more than 500 U.S. corporate directors, 80 percent of respondents say that “oversight of strategy execution” and “oversight of strategy development” is important or very important—the most popular improvements surfaced by the survey.

Moreover, those leaders are confident that they’ll have the financial wherewithal to manage through those improvements. Though respondents are still concerned about a looming recession, the percentage of those anticipating one has dropped substantially, from 65 percent in 2022 to 29 percent now; similarly, 62 percent of respondents say they anticipate the U.S. economy will experience a "soft landing" in the coming year, compared to 29 percent last year.

Please select this link to read the complete article from Associations Now.