The Importance of Board Independence - a Multidisciplinary Approach
Einde inhoudsopgave
The Importance of Board Independence (IVOR nr. 90) 2012/11.4.4.2:11.4.4.2 Outside experts
The Importance of Board Independence (IVOR nr. 90) 2012/11.4.4.2
11.4.4.2 Outside experts
Documentgegevens:
N.J.M. van Zijl, datum 05-10-2012
- Datum
05-10-2012
- Auteur
N.J.M. van Zijl
- JCDI
JCDI:ADS600629:1
- Vakgebied(en)
Ondernemingsrecht / Algemeen
Ondernemingsrecht / Corporate governance
Deze functie is alleen te gebruiken als je bent ingelogd.
The next four recommendations involve the participation of people and experts from outside the ingroup. The third remedy requires organisations to appoint, routinely, policy-planning and evaluation groups from outside the decision-making group. The fourth remedy prescribes that the members of the decision-making group must consult about the plans with people in the organisation whom they are responsible for at several points in the decision process. The feedback from the people within the organisation should be considered in the meetings of the decision-making group. Furthermore, the decision-making group should invite outside experts who must be encouraged to challenge the opinions of the group and during each meeting one of the members should play the devil’s advocate. These are the fifth and sixth recommendations, respectively. Within companies, it is already a normal procedure that, for important decisions, consultants, lawyers or investment bankers are hired to prepare some plans. In some cases, members of the board lack experience and knowledge to make a thorough decision. Therefore, by inviting experts for decisions in certain areas they comply with the above-mentioned recommendations of Janis.