Change Management - A Board Culture of Corporate Governance
Mondaq Business Briefing › Hong Kong Law Articles in English (2003)
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Change Management - A Board Culture of Corporate Governance
Executive Summary
The board of directors is responsible for corporate governance, and therefore determines the integrity and prosperity of the organisation. In recent times, although structural changes have been made to the way many corporations are governed, most of these changes have not led to a more basic cultural change. For some, tackling poor corporate governance can be embarrassing, and in the process of looking at its culture a board of directors may discover all sorts of questionable practices. For the politically inclined, the very possibility can act as a deterrent to championing sound corporate governance in a way which will cascade positive ethics through all levels of the organisation. For those championing integrity, how bad practices are dealt with will be important. If incompetent or unethical individuals remain in their posts without renouncing past behaviour, or worse if they are rewarded for negative behaviour, it undermines the message of the corporation's governance campaign and will result in directors and executive management paying but lip service to strategic directi...See the full content of this document
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