Measurement: Directors fear they are not well-positioned to “read” corporate culture, which they find to be inherently challenging to interpret.
Oversight: Boards wrestle with the most effective oversight structures. Directors agree that culture, ethics, and compliance demand significant time and effort, but recognize that they sometimes struggle to give these issues due attention on crowded board and committee agendas.
Accountability: Boards are responsible for ensuring that executives shape culture and compliance. All agree this is non-negotiable, but approaches differ.
- Trust: It is crucial and yet can be difficult to maintain. Trust is a key enabler of transparency; it is indispensable to a board’s ability to oversee culture.