Factors for board effectiveness from the perspective of strategy implementation: Proposal of an instrument

Abstract

We present a set of factors which can contribute to the effectiveness of boards of directors in managing strategy implementation. Following more recent research strands on corporate governance and boards, we focus on non-structural factors related to cognitive, behavioral, work process and power dimensions. They may enhance the explanatory power of structural features of boards where the latter's effectiveness is concerned. The identified factors are cohesiveness, presence of knowledge and skills, use of knowledge and skills, effort norms, cognitive conflict, task performance and information architecture. They were divided into sets of observable variables, which were consolidated into an instrument - reference lists - with a view to helping scholars and practitioners in assessing how boards rank in these factors.