The CEO's Boss: Tough Love in the Boardroom [NOOK Book]

Overview

In order to avoid another Enron, WorldCom, or Tyco, company directors have assumed a bold and independent role in the boardroom, monitoring the actions and day-to-day operations of the CEO. This dramatic shift has created a new dynamic, one that requires careful negotiation from both parties to get the job done. Giving directors, executives, investors, and stakeholders the tools to make this relationship work, William M. Klepper describes the best techniques for building a productive partnership and establishing ...

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The CEO's Boss: Tough Love in the Boardroom

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Overview

In order to avoid another Enron, WorldCom, or Tyco, company directors have assumed a bold and independent role in the boardroom, monitoring the actions and day-to-day operations of the CEO. This dramatic shift has created a new dynamic, one that requires careful negotiation from both parties to get the job done. Giving directors, executives, investors, and stakeholders the tools to make this relationship work, William M. Klepper describes the best techniques for building a productive partnership and establishing a plan of action for a variety of businesses and settings.

Klepper, an executive educator, has worked with AT& T, Bausch & Lomb, Johnson & Johnson, Sony, Sun Microsystems, and a host of other corporations. He knows what makes a healthy partnership between a board and its CEO and the consequences of a bad fit. In this book, he details the eight practices of successful executives, such as facilitating innovation, motivating change, and developing leadership skills, and he explains what directors need to evaluate, such as working style, social behavior, and the handling of stress, before they commit to hiring a CEO.

The most critical element is the social contract, in which directors and their CEOs agree to be transparent, continually reassess their company's risk, maintain core company values, and make a commitment to their stakeholders. These include employees, shareholders, customers, and the community. In this essential volume, Klepper encourages directors to embrace their independence, and he teaches executives to value tough love.

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Product Details

  • ISBN-13: 9780231520638
  • Publisher: Columbia University Press
  • Publication date: 6/1/2010
  • Series: Columbia Business School Publishing
  • Sold by: Barnes & Noble
  • Format: eBook
  • Pages: 192
  • File size: 3 MB

Meet the Author

William M. Klepper is a professor of management at the Columbia Business School, where he teaches a course on executive leadership and serves as the academic director of executive education. He is also the faculty director of Columbia University's partnership with the Outstanding Directors Exchange (ODX) and has served as vice president of the College of New Jersey, president of his school board, president of his county legislature, and mayor of his township. His most recent publication is What CEOs Have Yet to Learn.

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Table of Contents

Acknowledgments

1 The Social Contract 1

A Productive Partnership: Tyco 1

Prescription: The Social Contract 5

Commitment to Values 6

Commitment to the Stakeholders 8

Commitment to Risk Assessment 9

Commitment to Transparency 9

Commitment to Coaching 10

The Social Contracting Process 11

2 Tough Love in the Boardroom 14

Practicing Tough love 16

The CEO's Behavioral Style and Leadership Practices 17

The Organization's Needs 18

Matching Needs with Leadership 19

Finding the Correct Match Internally 20

Finding the Correct Match Outside the Company 21

CEO Tenure and Company Performance 22

Uncertainties of Business Cycles: JetBlue 24

3 Why the Right Partnership Matters 30

Leadership Style 30

Driver Leadership 34

Expressive Leadership 36

Amiable Leadership 37

Analytical Leadership 39

The Right Alignment, the Right Partnership 41

4 Leadership Metrics 45

Measuring Leadership Practices 46

Applying the Integrated Leadership Model 49

Diagnostics: The Use of Soft Metrics 54

5 How the Partnership Can Go Wrong: TTWO 58

The Gamer Generation 58

Leadership in the Beginning and Early Stages 59

Changes in 1998 and 1999 61

The First Signs of Trouble 62

New York Times Expose, May 12, 2003 64

Shareholder Activism 65

Hindsight: How the ILM Could Have Helped 66

6 What Directors Need to Know Before Committing to a CEO 69

CEO Alignment 70

Step 1 Strategic Context and Intent 71

Step 2 CEO's Agenda, Practices, and Style 73

Step 3 The Alignment of the Business System 77

Step 4 The Congruence Between Strategy, CEO, and Business System 79

Hindsight: The Ewing Township Board of Education 80

The Dangers of Bias and the Power of Persuasion 84

7 The Board's Commitment to the CEO 88

Putting Tough Love to Work 88

Agreeing on Metrics 89

CEO Feedback 90

Identifying the Gaps 94

Solutions and Action Plans 97

8 Effective Board Dynamics: How Directors Interact as a Team 102

Team Stages and Team Roles 102

Failure of Tough Love: The Learning Studio 104

Formula for Success 106

Know Yourself 107

Control Yourself 107

Know Others 110

Do Something for Others 111

Requirements for Teamwork 111

The Lead Independent Director 115

The Chief Process Leader 116

Outstanding Directors 117

Conclusion 120

My Continuing Commitment 122

Epilogue: 2020 Foresight 123

The CEO and the Board 125

Concluding Thought 128

Notes 129

Index 135

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Sort by: Showing 1 Customer Reviews
  • Posted November 30, 2010

    more from this reviewer

    Informed report on how boards should work with CEOs

    Enron. Global Crossing. WorldCom. Adelphia. Tyco International. These corporate cautionary tales point to the crucial importance of responsible corporate governance, something in shockingly short supply in recent years. In this book, Columbia Business School Professor William M. Klepper discusses why boards must show "tough love" to CEOs to keep them in line with corporate goals. He details how a "Social Contract" can set the working partnerships between directors and CEOs. Klepper, a management expert in board and executive relationships, has worked on executive education with some of the world's best-known firms, including AT&T, Sony and Johnson & Johnson. He tends to refer to these experiences and his credentials frequently, name-dropping with abandon. But maybe his self-promotion is justified, because he sure knows his subject. getAbstract thinks board members and CEOs will learn a lot from Klepper's insightful, instructive and fascinating case histories.

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