Edited by Anthony J. Nyberg and Thomas P. Moliterno
Chapter 22: Organizational crisis: the need for transformative boards and top management teams
While executive selection and board appointments represent some of the most important decisions made by the board, little is known about the process and practices that determine the firm’s strategic human capital resources. In light of an environment of increased scrutiny and accountability, and as a result of changes in technological and market forces, the potential for organizations to find themselves with a crisis as a result of malfeasance, personal misconduct, or errors of judgement is not set to diminish. This chapter seeks to highlight the importance of the firm’s strategic human capital resources to prevent and manage an organizational crisis. For firms to be better equipped at handling such negative events, boards must continually enhance and renew the skills, knowledge, and experiences residing in the firm’s leadership. In doing so, companies can become more adept in preventing the occurrence of an organizational crisis and in providing leadership to mitigate the effects of such events when they do occur.
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