What do you think?
Rate this book
How Boards Work: And How They Can Work Better in a Chaotic World
A New York Times bestselling author and veteran board member offers an insider's view of corporate boards, their struggles, and why they must adapt to survive.
Corporate boards are under great pressure. Scandals and malpractice at companies like Theranos, WeWork, Uber, and Wells Fargo have raised justified questions among regulators, shareholders, and the public about the quality of corporate governance. In How Boards Work, prizewinning economist and veteran board director Dambisa Moyo offers an insider's view of corporate boards as they are buffeted by the turbulence of our times.
Moyo argues that corporations need boards that are more transparent, more knowledgeable, more diverse, and more deeply involved in setting the strategic course of the companies they lead. How Boards Work offers a road map for how boards can steer companies through tomorrow's challenges and ensure they thrive to benefit their employees, shareholders, and society at large.
Corporate boards are under great pressure. Scandals and malpractice at companies like Theranos, WeWork, Uber, and Wells Fargo have raised justified questions among regulators, shareholders, and the public about the quality of corporate governance. In How Boards Work, prizewinning economist and veteran board director Dambisa Moyo offers an insider's view of corporate boards as they are buffeted by the turbulence of our times.
Moyo argues that corporations need boards that are more transparent, more knowledgeable, more diverse, and more deeply involved in setting the strategic course of the companies they lead. How Boards Work offers a road map for how boards can steer companies through tomorrow's challenges and ensure they thrive to benefit their employees, shareholders, and society at large.
304 pages, Hardcover
Published May 4, 2021
109 people are currently reading
1610 people want to read
About the author
Dambisa Moyo
10 books362 followersDr. Dambisa Moyo is an international economist who writes on the macroeconomy and global affairs.
She is the author of the New York Times Bestsellers "Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa", "How The West Was Lost: Fifty Years of Economic Folly And the Stark Choices Ahead" and "Winner Take All: China s Race for Resources and What It Means for the World".
Ms. Moyo was named by Time Magazine as one of the “100 Most Influential People in the World”, and was named to the World Economic Forum’s Young Global Leaders Forum. Her work regularly appears in economic and finance-related publications such as the Financial Times, the Economist Magazine and the Wall Street Journal.
She completed a doctorate in Economics at Oxford University and holds a Masters degree from Harvard University. She completed an undergraduate degree in Chemistry and an MBA in Finance at the American University in Washington D.C..
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 30 of 37 reviews
September 1, 2021
30% is elaboration on the structure and tasks of corporate boards. This part is fine, although nothing extraordinary.
The other 70% can be summed up by "The future is different from the present, boards will have to adapt" but then on several specific trends. I was disappointed because the author almost never gave a clear example of a strategy forward, instead not venturing past the mere observation that a strategy is required.
Also a lack of elaborate personal experiences, which could have made this book stand out, given the author's career.
The other 70% can be summed up by "The future is different from the present, boards will have to adapt" but then on several specific trends. I was disappointed because the author almost never gave a clear example of a strategy forward, instead not venturing past the mere observation that a strategy is required.
Also a lack of elaborate personal experiences, which could have made this book stand out, given the author's career.
July 6, 2022
An example of a title not working with a book.
How boards work, should actually say how they work, what are reserved matters, structure, technical details, phrases like
But the problem with this book is that the writer got on aboard quiet young with out being a CEO or a founder, so never did the nitty gritty.
There is a book called Venture Deals that does this, you actually learn something.
This book is a manifesto on how companies should be governed in the 21st, a call to action for boards all actors the US. And it is very much US centric.
'This biggest issues on boards is 'gun control'. Really? Outside the US?
If the title was different something like Corporate America, it is a decent business book that I wouldn't have read.
How boards work, should actually say how they work, what are reserved matters, structure, technical details, phrases like
But the problem with this book is that the writer got on aboard quiet young with out being a CEO or a founder, so never did the nitty gritty.
There is a book called Venture Deals that does this, you actually learn something.
This book is a manifesto on how companies should be governed in the 21st, a call to action for boards all actors the US. And it is very much US centric.
'This biggest issues on boards is 'gun control'. Really? Outside the US?
If the title was different something like Corporate America, it is a decent business book that I wouldn't have read.
May 21, 2021
Zambian economist and bestselling author Dambisa Moyo, in her latest book, “How Boards Work”, lays out a concise ‘manifesto’ for an expedient and optimal discharge of responsibilities by Corporate Boards in an age characterised by tumultuous change and turbulent uncertainties. Unfettered movement of capital, and seamless globalization require Boards to make ‘win-lose’ strategic decisions, effectively and swiftly. The environment amidst which such decisions are required to be made is characterised by limited knowledge and significant unpredictability. This framework within which Boards execute their functions is called Knightian uncertainty after the University of Chicago economist Frank Knight. While risks may be measured and managed, uncertainty is unquantifiable and thus much harder to mitigate.
Every Board, says Moyo, is bound by the duties of care and loyalty. At the nub of the principle of duty of care lies the concept that “directors must be sufficiently informed before making a decision and that board members may reasonably rely on information, opinions, and reports provided by officers of the company or outside experts.” The companion to the duty of care is the notion of the duty of loyalty. The latter “requires board members to act in good faith and in a manner that they reasonably believe is in the best interest of the company and its stockholders.”
However, the contemporaneous global situation is fraught with risks that pose significant challenges to the Board in complying with their beholden duties. Moyo identifies five such key risks that need to be factored in by every Board within their parameters of decision making: “the risk of a more siloed and protectionist world, massive changes in the investment landscape, new technological developments, the global war for talent, and, ultimately, short-termism itself.” To highlight the risk of operating in a protectionist or a ‘de-globalised’ planet, Moyo gives a very innovative example of a phenomenon called “splinternet”. A veritable threat to the currently sprawling and inextricably linked global supply chains, splinternet refers to an exacerbated fragmentation of the internet having competing platforms that are both China and US led. This technological disintegration possesses the unenviable potential to “dramatically disrupt global supply chains by eliminating centralized procurement and thereby raising costs and reducing the efficiency gained from shared global services. Furthermore, a balkanized internet promises to increase the complexity of companies’ operations and erode their ability to respond quickly to market forces. In such a world, companies will need to choose between the US and China camps or bear the costs of operating in two adversarial technological worlds, each with its own regulatory and operating standards.”
Moyo also argues for more diversity in terms of recruitment, gender equity and cultural diversity in the composition of a Board. The pressure exerted by key stakeholders such as institutional and passive investors as well as activist investors have led to companies lending more focus on societal interests such as Environment, Social and Corporate Governance. For example, in the year 2018 investing behemoth BlackRock, in tandem with other asset managers like Vanguard and Schroders, called on companies to commit themselves to a harmonised set of metrics for resolving societal and workforce issues. “The signatories to this agreement, which became known as the Embankment Project for Inclusive Capitalism, together control more than $30 trillion. Collectively, they agreed to push companies to disclose hard-to-quantify measures such as staffing, governance, and innovation, as well as societal and environmental impacts.”
Another area of contention which Moyo addresses head on relates to executive compensation. The gulf between employee/worker and executive compensation has been insidiously widening, and on a sustained basis. Inflation-adjusted CEO pay has grown 940 percent since 1978, while typical worker compensation has risen only 12 percent. According to the Economic Policy Institute, the ratio of CEO pay to average worker pay rose from 33 to 1 in 1980, to a peak of 376 in 2000, before lowering slightly to 276 in 2015. Moyo argues for “malus and claw back” clauses to be incorporated in executive pay contracts that would enable Boards to reclaim a portion of executive compensation in the event a company suffers on account of gross negligence or unscrupulous behaviour of any of its executives. The Chief executive of the UK housebuilder Persimmon faced flak in November 2018, for having pocketed a £110 million bonus. Even though the perquisite was whittled down subsequently, the public outcry persisted, and the media also castigated the company for granting such obscene bonuses.
The presence (or the lack of it) of women on corporate boards is also addressed in an insightful manner by Moyo. She reveals her own singularly unique and undesirable experience in this matter. During a shareholder’s meeting a vociferous person pointing at Moyo queried as to what exactly she was doing on the Board and what were her credentials. Incidentally, she happened to be the only woman on the Board. To his credit, the Chairman referred the questioner to the relevant extracts from the Annual Report of the company that had a complete and extensive profile of Moyo and her professional and academic achievements. As Moyo informs her readers, studies have revealed that a gender-diverse board enhances not just the quantity of earnings, but also the quality. “In a 2016 study, Putting Gender Diversity to Work: Better Fundamentals, Less Volatility, investment-banking firm Morgan Stanley found that companies with high gender diversity display lower ROE volatility—and thus higher long-term earnings quality—over a three-year time period, relative to companies with low gender diversity.”
However, for me personally the most relevant takeaway from the book relates to the challenges a Board faces in addressing issues of social importance such as obesity, general health, and wellbeing. In fact a public private partnership to combat pernicious health issues have taken shape across geographies. For instance, several cities in the US such as Boulder, Oakland, Philadelphia, San Francisco, and Seattle, have imposed a sugar or soda tax for combating obesity. From a corporation perspective, Coca-Cola has broadened its portfolio offering to include less sugary drinks. Where public policy has lagged behind, such as in addressing climate change concerns about meat production, corporates have taken the initiative to create vegan, nonmeat, and plant-based options. “Even where governments may be lagging on broad-based environmental policies, companies are imposing green initiatives to address climate concerns in their business models. Getting rid of single-use plastics, such as straws in fast-food chains, is one very targeted intervention in this drive.”
Moyo herself is on the Board of many large and reputed blue chip companies and that experience is writ large in the tenets found in her book. She was on the Board of SABMiller when the iconic beer manufacturer was taken over by Anheuser-Busch InBev in one of the largest mergers in the beer industry (the deal was valued at $100 billion). Similarly she was also responsible in steering Barrick Gold Corporation, a mining company that produces gold and copper with 16 operating sites in 13 countries, through some tough times when gold prices plunged precariously. Moyo is also a non-executive director of the oil major Chevron.
“How Boards Work” is a very useful and engaging read for all those who are interested in understanding how corporates tide over the seemingly insurmountable hurdles birthed by a VUCA world.
Every Board, says Moyo, is bound by the duties of care and loyalty. At the nub of the principle of duty of care lies the concept that “directors must be sufficiently informed before making a decision and that board members may reasonably rely on information, opinions, and reports provided by officers of the company or outside experts.” The companion to the duty of care is the notion of the duty of loyalty. The latter “requires board members to act in good faith and in a manner that they reasonably believe is in the best interest of the company and its stockholders.”
However, the contemporaneous global situation is fraught with risks that pose significant challenges to the Board in complying with their beholden duties. Moyo identifies five such key risks that need to be factored in by every Board within their parameters of decision making: “the risk of a more siloed and protectionist world, massive changes in the investment landscape, new technological developments, the global war for talent, and, ultimately, short-termism itself.” To highlight the risk of operating in a protectionist or a ‘de-globalised’ planet, Moyo gives a very innovative example of a phenomenon called “splinternet”. A veritable threat to the currently sprawling and inextricably linked global supply chains, splinternet refers to an exacerbated fragmentation of the internet having competing platforms that are both China and US led. This technological disintegration possesses the unenviable potential to “dramatically disrupt global supply chains by eliminating centralized procurement and thereby raising costs and reducing the efficiency gained from shared global services. Furthermore, a balkanized internet promises to increase the complexity of companies’ operations and erode their ability to respond quickly to market forces. In such a world, companies will need to choose between the US and China camps or bear the costs of operating in two adversarial technological worlds, each with its own regulatory and operating standards.”
Moyo also argues for more diversity in terms of recruitment, gender equity and cultural diversity in the composition of a Board. The pressure exerted by key stakeholders such as institutional and passive investors as well as activist investors have led to companies lending more focus on societal interests such as Environment, Social and Corporate Governance. For example, in the year 2018 investing behemoth BlackRock, in tandem with other asset managers like Vanguard and Schroders, called on companies to commit themselves to a harmonised set of metrics for resolving societal and workforce issues. “The signatories to this agreement, which became known as the Embankment Project for Inclusive Capitalism, together control more than $30 trillion. Collectively, they agreed to push companies to disclose hard-to-quantify measures such as staffing, governance, and innovation, as well as societal and environmental impacts.”
Another area of contention which Moyo addresses head on relates to executive compensation. The gulf between employee/worker and executive compensation has been insidiously widening, and on a sustained basis. Inflation-adjusted CEO pay has grown 940 percent since 1978, while typical worker compensation has risen only 12 percent. According to the Economic Policy Institute, the ratio of CEO pay to average worker pay rose from 33 to 1 in 1980, to a peak of 376 in 2000, before lowering slightly to 276 in 2015. Moyo argues for “malus and claw back” clauses to be incorporated in executive pay contracts that would enable Boards to reclaim a portion of executive compensation in the event a company suffers on account of gross negligence or unscrupulous behaviour of any of its executives. The Chief executive of the UK housebuilder Persimmon faced flak in November 2018, for having pocketed a £110 million bonus. Even though the perquisite was whittled down subsequently, the public outcry persisted, and the media also castigated the company for granting such obscene bonuses.
The presence (or the lack of it) of women on corporate boards is also addressed in an insightful manner by Moyo. She reveals her own singularly unique and undesirable experience in this matter. During a shareholder’s meeting a vociferous person pointing at Moyo queried as to what exactly she was doing on the Board and what were her credentials. Incidentally, she happened to be the only woman on the Board. To his credit, the Chairman referred the questioner to the relevant extracts from the Annual Report of the company that had a complete and extensive profile of Moyo and her professional and academic achievements. As Moyo informs her readers, studies have revealed that a gender-diverse board enhances not just the quantity of earnings, but also the quality. “In a 2016 study, Putting Gender Diversity to Work: Better Fundamentals, Less Volatility, investment-banking firm Morgan Stanley found that companies with high gender diversity display lower ROE volatility—and thus higher long-term earnings quality—over a three-year time period, relative to companies with low gender diversity.”
However, for me personally the most relevant takeaway from the book relates to the challenges a Board faces in addressing issues of social importance such as obesity, general health, and wellbeing. In fact a public private partnership to combat pernicious health issues have taken shape across geographies. For instance, several cities in the US such as Boulder, Oakland, Philadelphia, San Francisco, and Seattle, have imposed a sugar or soda tax for combating obesity. From a corporation perspective, Coca-Cola has broadened its portfolio offering to include less sugary drinks. Where public policy has lagged behind, such as in addressing climate change concerns about meat production, corporates have taken the initiative to create vegan, nonmeat, and plant-based options. “Even where governments may be lagging on broad-based environmental policies, companies are imposing green initiatives to address climate concerns in their business models. Getting rid of single-use plastics, such as straws in fast-food chains, is one very targeted intervention in this drive.”
Moyo herself is on the Board of many large and reputed blue chip companies and that experience is writ large in the tenets found in her book. She was on the Board of SABMiller when the iconic beer manufacturer was taken over by Anheuser-Busch InBev in one of the largest mergers in the beer industry (the deal was valued at $100 billion). Similarly she was also responsible in steering Barrick Gold Corporation, a mining company that produces gold and copper with 16 operating sites in 13 countries, through some tough times when gold prices plunged precariously. Moyo is also a non-executive director of the oil major Chevron.
“How Boards Work” is a very useful and engaging read for all those who are interested in understanding how corporates tide over the seemingly insurmountable hurdles birthed by a VUCA world.
April 22, 2022
Must read for anyone contemplating private or public board service.
October 30, 2022
Dambisa is a Zambian-born economist and author of five books. After working at the World Bank and Goldman Sachs, she has held a series of board roles during the last dozen years. These non-exec roles have been across a wide range of sectors, mostly for global and listed companies.
This book was released in 2021 to the following assessment by the Financial Times: "thoughtful analysis and reform proposals against which boardroom sophisticates can usefully test their assumptions".
While the first-hand accounts are interesting in many respects, the first three chapters on strategy/recruitment/culture are quite observational (and non-controversial). However, the fourth chapter poses “five critical issues that no board should ignore” (and this is where the book becomes worth reading):
- The risk of a more siloed and protectionist world
- Sea change in the investment landscape
- New technological developments
- Global war for talent
- Short-termism
The material on the first critical issue is highly developed, and really stands out from the others. It deals with de-globalisation and splintering into regional/national/local markets. This section will be of interest for keen students of modern business practices.
The final chapter provides a call-to-action that seeks to inspire governance reforms, to increase the relevance/effectiveness of corporate boards. There is some content on gender/racial equity and the broader issues of diversity/inclusion, but this isn’t the core of the author’s thesis.
Overall I wasn’t blown away by this book, and in some respects found it a bit disappointing (compared to the high expectations that I had when first picking it up). The quality of writing is better than many non-fiction books on governance, but the insights are rather conventional/predictable.
I’d recommend this book to people looking for a single readable overview of multinational board practices.
This book was released in 2021 to the following assessment by the Financial Times: "thoughtful analysis and reform proposals against which boardroom sophisticates can usefully test their assumptions".
While the first-hand accounts are interesting in many respects, the first three chapters on strategy/recruitment/culture are quite observational (and non-controversial). However, the fourth chapter poses “five critical issues that no board should ignore” (and this is where the book becomes worth reading):
- The risk of a more siloed and protectionist world
- Sea change in the investment landscape
- New technological developments
- Global war for talent
- Short-termism
The material on the first critical issue is highly developed, and really stands out from the others. It deals with de-globalisation and splintering into regional/national/local markets. This section will be of interest for keen students of modern business practices.
The final chapter provides a call-to-action that seeks to inspire governance reforms, to increase the relevance/effectiveness of corporate boards. There is some content on gender/racial equity and the broader issues of diversity/inclusion, but this isn’t the core of the author’s thesis.
Overall I wasn’t blown away by this book, and in some respects found it a bit disappointing (compared to the high expectations that I had when first picking it up). The quality of writing is better than many non-fiction books on governance, but the insights are rather conventional/predictable.
I’d recommend this book to people looking for a single readable overview of multinational board practices.
April 21, 2023
This grouping of pages between two hard covers is dreadful.
Don't read it.
I am confident that Damiba Moyo is intelligent and insightful, providing outstanding service to the boards on which she sits.
She should write a book.
She certainly didn't write this.
I think that these pages were coined by a chatbot based on a PowerPoint presentation by Moyo.
Passages like this are completely devoid of anything that resembles human mintelligence.....
"Board decision-making is hard. Board members are trusted to make crucial decisions based on an assessment of all available date and every conceivable perspective. And yet the environment in which a board operates is fluid. A decision that may appear totally logical and defensible today could seem questionable tomorrow, after new data and trends come to light."
The world changes. Get it?
These pages could have done with a good copy edit.
"Inventory is another metric that offers a measure of capital efficiency. This reveals the number of times inventory is sold in a period of time. A higher number can raise concerns that a company is holding too much inventory and not selling enough."
Really? Actually, inventory turnover is the OPPOSITE. Higher turns are a sign of more efficiency.
Or how about this....
"A classic issue faced by innumerable boards and management teams is cannibalization [Wait??! There are management teams? They are invisible in these pages.] Cannibalization starves new business units of capital, labor, and management expertise, hurting the company's chances of moving toward a new and more innovative strategy."
Actually, professor? That's not what cannibalization is. The problem is that incumbent companies DO NOT cannibalize their business, as they underinvest in new opportunities.
You should read your book.
Awful.
Don't read it.
I am confident that Damiba Moyo is intelligent and insightful, providing outstanding service to the boards on which she sits.
She should write a book.
She certainly didn't write this.
I think that these pages were coined by a chatbot based on a PowerPoint presentation by Moyo.
Passages like this are completely devoid of anything that resembles human mintelligence.....
"Board decision-making is hard. Board members are trusted to make crucial decisions based on an assessment of all available date and every conceivable perspective. And yet the environment in which a board operates is fluid. A decision that may appear totally logical and defensible today could seem questionable tomorrow, after new data and trends come to light."
The world changes. Get it?
These pages could have done with a good copy edit.
"Inventory is another metric that offers a measure of capital efficiency. This reveals the number of times inventory is sold in a period of time. A higher number can raise concerns that a company is holding too much inventory and not selling enough."
Really? Actually, inventory turnover is the OPPOSITE. Higher turns are a sign of more efficiency.
Or how about this....
"A classic issue faced by innumerable boards and management teams is cannibalization [Wait??! There are management teams? They are invisible in these pages.] Cannibalization starves new business units of capital, labor, and management expertise, hurting the company's chances of moving toward a new and more innovative strategy."
Actually, professor? That's not what cannibalization is. The problem is that incumbent companies DO NOT cannibalize their business, as they underinvest in new opportunities.
You should read your book.
Awful.
January 8, 2025
It does what it says on the tin. If it were not for the fact that I need to understand boardrooms, I would not pick up this book. Information is quite distilled and presented in a simple format. However, I feel that I will still need to read a lot of research papers to answer the title question. The author is an experienced board member and gives readers a glimpse of this obscure world.
The book starts with outlining the history, structure, purpose, and types of boards and their members. The second half talks about how the boards will need to adjust to the future. The sections on the future challenges and especially on technology were the weakest in my view. They were quite superficial and showed a lack of deep understanding (or lack of space to cover it extensively).
The underlying theme throughout the book was the author’s woke ideology that was showing its face across the chapters, but particularly in the chapter on culture. Moyo went through quite a lot of mental gymnastics to show how to achieve the representation of desired demographic characteristics and how this is totally, absolutely not discriminating against others and does not impact the quality. The usual waffle.
The book starts with outlining the history, structure, purpose, and types of boards and their members. The second half talks about how the boards will need to adjust to the future. The sections on the future challenges and especially on technology were the weakest in my view. They were quite superficial and showed a lack of deep understanding (or lack of space to cover it extensively).
The underlying theme throughout the book was the author’s woke ideology that was showing its face across the chapters, but particularly in the chapter on culture. Moyo went through quite a lot of mental gymnastics to show how to achieve the representation of desired demographic characteristics and how this is totally, absolutely not discriminating against others and does not impact the quality. The usual waffle.
June 6, 2021
This book is a quick read. I think it's best for people who don't have much understanding of what Corporate Boards do. If you work for a large company and want to know more, or if you're curious about Board service for yourself, this could be an interesting read.
I didn't find it groundbreaking or putting forth new ideas, but it was a nice exploration of what board do, how they work, and the challenges they face.
I didn't find it groundbreaking or putting forth new ideas, but it was a nice exploration of what board do, how they work, and the challenges they face.
August 21, 2021
This is an incredibly valuable book for anyone who has to work with boards of any kind. I picked it up because I have been increasingly frustrated with the Board of Trustees structure that reigns in the world of public libraries and while this book obviously does not address our issues, since it is focused on corporate boards, it still contains a lot of information about how boards are supposed to work that I never knew about. I have a lot of absorbing and processing to do to gain a better idea of how I can apply these principles across disciplines, but I hope a lot of people will read this book because I think it is clear and easy enough to understand that it will help effect change if people use the information appropriately.
September 6, 2023
I recently had the honour of receiving an invitation to join a non-governmental organization (NGO) board. This was a role I had never undertaken before, and I found myself uncertain about the responsibilities and expectations that came with it. As someone deeply committed to lifelong learning, I embarked on a quest for knowledge and guidance. My journey led me to the enlightening pages of "How Boards Work: and How They Work Better in a Chaotic World" by the esteemed author Dambisa Moyo.
In her book, Dambisa Moyo draws upon her extensive decade-long experience as a board member in diverse corporations, ranging from the colossal to the modest, the intricate to the straightforward. She deftly delves into boards' multifaceted roles, which are fundamentally centred around steering an organization's strategy, ensuring effective governance, and shaping its culture.
Moyo's insight underscores a crucial point: while the lodestar for boards remains creating value for shareholders, adapting to the evolving cultural landscape is imperative. She astutely identifies these contemporary cultural frontiers as workers' rights, the gender pay gap, mental health, sustainability, ethics and values, sexual harassment, and parental leave, among others. Boards must continually reassess their operational strategies to align with these vital issues, ensuring that organizations remain ethically responsible and socially conscious.
Furthermore, the book thoughtfully elucidates five pivotal risk areas that boards must vigilantly monitor as they navigate the path to organizational success:
The risk of a more siloed and protectionist world: Moyo astutely observes how geopolitical shifts, such as the MAGA movement and Brexit, can impact global businesses and necessitate adaptability.
Massive changes in the investment landscape: The book elucidates the changing dynamics of investments and how boards must remain agile in response to evolving financial paradigms.
New technological developments: In a rapidly advancing digital age, boards must grapple with the challenges and opportunities presented by cutting-edge technologies, ensuring that organizations remain innovative and secure.
The global war for talent: Moyo's work underscores the importance of attracting and retaining top talent in a competitive global job market, making it a core concern for boards.
Short-termism: Boards are confronted with the imperative to balance short-term gains with long-term sustainability, safeguarding the organization's future.
In essence, "How Boards Work" provides a comprehensive guide to the functions and responsibilities of boards and a roadmap for addressing the pressing challenges of the 21st century. By sharing her experiences and insights from the corporate world, Dambisa Moyo contributes to a valuable discourse on restructuring board memberships, equipping them to confront the complexities of our contemporary world effectively. This book is a beacon for those stepping into board roles and a vital resource for seasoned board members seeking to adapt and thrive in an ever-changing landscape.
In her book, Dambisa Moyo draws upon her extensive decade-long experience as a board member in diverse corporations, ranging from the colossal to the modest, the intricate to the straightforward. She deftly delves into boards' multifaceted roles, which are fundamentally centred around steering an organization's strategy, ensuring effective governance, and shaping its culture.
Moyo's insight underscores a crucial point: while the lodestar for boards remains creating value for shareholders, adapting to the evolving cultural landscape is imperative. She astutely identifies these contemporary cultural frontiers as workers' rights, the gender pay gap, mental health, sustainability, ethics and values, sexual harassment, and parental leave, among others. Boards must continually reassess their operational strategies to align with these vital issues, ensuring that organizations remain ethically responsible and socially conscious.
Furthermore, the book thoughtfully elucidates five pivotal risk areas that boards must vigilantly monitor as they navigate the path to organizational success:
The risk of a more siloed and protectionist world: Moyo astutely observes how geopolitical shifts, such as the MAGA movement and Brexit, can impact global businesses and necessitate adaptability.
Massive changes in the investment landscape: The book elucidates the changing dynamics of investments and how boards must remain agile in response to evolving financial paradigms.
New technological developments: In a rapidly advancing digital age, boards must grapple with the challenges and opportunities presented by cutting-edge technologies, ensuring that organizations remain innovative and secure.
The global war for talent: Moyo's work underscores the importance of attracting and retaining top talent in a competitive global job market, making it a core concern for boards.
Short-termism: Boards are confronted with the imperative to balance short-term gains with long-term sustainability, safeguarding the organization's future.
In essence, "How Boards Work" provides a comprehensive guide to the functions and responsibilities of boards and a roadmap for addressing the pressing challenges of the 21st century. By sharing her experiences and insights from the corporate world, Dambisa Moyo contributes to a valuable discourse on restructuring board memberships, equipping them to confront the complexities of our contemporary world effectively. This book is a beacon for those stepping into board roles and a vital resource for seasoned board members seeking to adapt and thrive in an ever-changing landscape.
August 4, 2025
HOW BOARDS WORK
And How They Can Work Better In a Chaotic World
I relished reading this book—an amazing piece of art curated by Dambisa Moyo. The world is driven by commerce, which creates the need for separate legal entities to conduct their trade. This will therefore create the need for interlink and reliance between the board of directors and the management of the organization. These are the key lessons from the book:
Strategy as a Tool for Review and Corporate Progression
The management team develops the strategy. This serves as the blueprint which the organization seeks to adopt to achieve their set objectives. With the help of a proper mix of board members, the strategy is reviewed and revised. This step is to help encompass what both the management and board of directors want the direction the organization will take to achieve their set goal.
Boardrooms and their role in Steadying the Organization “ship”
“You see one board, you see one board.” Each organization has a unique product and a specific industry which it is domiciled to provide either goods or services. This means that each board is unique in its composition and the way that it develops strategy. The methods that it uses to advance the company’s position in the world as we know it serves as a control on it not deviating towards inefficiency and therefore collapse. Therefore, what I learnt from the book is that depending on the organization the board's composition must fit in with what the company advances. A well blended board will provide a robust defense against duplication that will deny the organization the much-needed mix of skills, knowledge and talents for proper management.
Innovate or Die – The Existential Crisis of the 21st Century.
Death in the business world is a resultant effect of the omission and disuse of strategy to help the organization develop market relevant products. Any failure of the organizations not to come up with suitable products, especially for the young population around the world, that are the majority, will lead to obsolescence of particular products. When this arises, a crisis occurs leaving the organization with dead stock and the loss of opportunity cost that was incurred.
This is an important book with relevant lessons for any organization to survive.
And How They Can Work Better In a Chaotic World
I relished reading this book—an amazing piece of art curated by Dambisa Moyo. The world is driven by commerce, which creates the need for separate legal entities to conduct their trade. This will therefore create the need for interlink and reliance between the board of directors and the management of the organization. These are the key lessons from the book:
Strategy as a Tool for Review and Corporate Progression
The management team develops the strategy. This serves as the blueprint which the organization seeks to adopt to achieve their set objectives. With the help of a proper mix of board members, the strategy is reviewed and revised. This step is to help encompass what both the management and board of directors want the direction the organization will take to achieve their set goal.
Boardrooms and their role in Steadying the Organization “ship”
“You see one board, you see one board.” Each organization has a unique product and a specific industry which it is domiciled to provide either goods or services. This means that each board is unique in its composition and the way that it develops strategy. The methods that it uses to advance the company’s position in the world as we know it serves as a control on it not deviating towards inefficiency and therefore collapse. Therefore, what I learnt from the book is that depending on the organization the board's composition must fit in with what the company advances. A well blended board will provide a robust defense against duplication that will deny the organization the much-needed mix of skills, knowledge and talents for proper management.
Innovate or Die – The Existential Crisis of the 21st Century.
Death in the business world is a resultant effect of the omission and disuse of strategy to help the organization develop market relevant products. Any failure of the organizations not to come up with suitable products, especially for the young population around the world, that are the majority, will lead to obsolescence of particular products. When this arises, a crisis occurs leaving the organization with dead stock and the loss of opportunity cost that was incurred.
This is an important book with relevant lessons for any organization to survive.
November 26, 2023
“How boards work” is, as the title suggests, a book about how the Board of Directors of large corporations, work.
If you’re looking for an introduction to Boards, this book can help teach you the very basics of how Boards function, including their influence on the company’s strategy, the selection and oversight of the CEO (and often the senior management), and how to deal with culture and the growing pressures from stakeholders - employees, recruits, partners, customers, and the Public.
You’ll also learn a little bit about strategic and activist investors and how they influence the board as well as the various committees that typical Boards engage in e.g., audit, compensation, compliance, governance, investor relations, and risk.
But that’s about the limit of the book.
I felt that “How boards work" lacked insights and interesting stories - if only to give life to an otherwise dry topic. The author has enjoyed some great experiences and should know the practical elements of how a Board works. Unfortunately she did not share these with the readers.
For example, what are the good, bad, and ugly practices that Board Members participate in? How intimately should Board members know the business? How often should they be involved informally as well as formally? There was definitely a lack of practical details.
This seemed more like a book on “Boards for Dummies” when it could have been something much more interesting.
Although the book seemed promising, I was disappointed at its lack of depth.
If you’re looking for an introduction to Boards, this book can help teach you the very basics of how Boards function, including their influence on the company’s strategy, the selection and oversight of the CEO (and often the senior management), and how to deal with culture and the growing pressures from stakeholders - employees, recruits, partners, customers, and the Public.
You’ll also learn a little bit about strategic and activist investors and how they influence the board as well as the various committees that typical Boards engage in e.g., audit, compensation, compliance, governance, investor relations, and risk.
But that’s about the limit of the book.
I felt that “How boards work" lacked insights and interesting stories - if only to give life to an otherwise dry topic. The author has enjoyed some great experiences and should know the practical elements of how a Board works. Unfortunately she did not share these with the readers.
For example, what are the good, bad, and ugly practices that Board Members participate in? How intimately should Board members know the business? How often should they be involved informally as well as formally? There was definitely a lack of practical details.
This seemed more like a book on “Boards for Dummies” when it could have been something much more interesting.
Although the book seemed promising, I was disappointed at its lack of depth.
December 22, 2023
Super disappointed as I've previously enjoyed Moyo's work. Better knowledge was gained by tracking a weekend of the OpenAI/Sam Altman drama. I'd recommend going to read stories of boardroom dramas to understand the real role of a board beyond this.
Here's a link to Investopedia so you can actually learn stuff and then move on with your life: https://www.investopedia.com/terms/b/...
The book should have been the following paragraph:
"Boards exist in concert with the executive team - they hire them, set strategy with them, and hold them accountable. Companies without strong boards can end up badly managed or are run without good governance (board members have fiduciary duties to shareholders and legal oversight duties). The CEO is usually the chairman of the board, too. But as the world becomes more complex, boards need to change and take a more active role in setting strategy. I've been a board member so I am familiar with this. Boards are way too old and not nearly female enough - groupthink-y and passive board members aren't good for companies."
Here's a link to Investopedia so you can actually learn stuff and then move on with your life: https://www.investopedia.com/terms/b/...
The book should have been the following paragraph:
"Boards exist in concert with the executive team - they hire them, set strategy with them, and hold them accountable. Companies without strong boards can end up badly managed or are run without good governance (board members have fiduciary duties to shareholders and legal oversight duties). The CEO is usually the chairman of the board, too. But as the world becomes more complex, boards need to change and take a more active role in setting strategy. I've been a board member so I am familiar with this. Boards are way too old and not nearly female enough - groupthink-y and passive board members aren't good for companies."
December 21, 2024
If youve never served on a board or interacted with one, this book is a good intro. Otherwise its not really worth it. The author thoughtfully lays out a bunch of aspects of board life which is generally board 101
One nitpick. Peter Drucker did not say “Culture eats strategy for lunch”. If anyone did it may have been Steve Jobs or Jack Welch but regardless people need to stop attributing this to him. Furthermore there is a strong case that the opposite is true. Culture is important and can be additive to a strategy or detract from it. However its almost impossible to fix a bad strategy.
And the authors fixation on deglobalization and idea that boards will fragment is totally incorrect imo. Corps are not going to start raising capital locally and governing locally outside a few notable examples like tik tok or sequoia. They will still centrally operate and just leverage greater capital choice arbitraging cost of capital. We will see who is correct.
One nitpick. Peter Drucker did not say “Culture eats strategy for lunch”. If anyone did it may have been Steve Jobs or Jack Welch but regardless people need to stop attributing this to him. Furthermore there is a strong case that the opposite is true. Culture is important and can be additive to a strategy or detract from it. However its almost impossible to fix a bad strategy.
And the authors fixation on deglobalization and idea that boards will fragment is totally incorrect imo. Corps are not going to start raising capital locally and governing locally outside a few notable examples like tik tok or sequoia. They will still centrally operate and just leverage greater capital choice arbitraging cost of capital. We will see who is correct.
November 7, 2023
That was one informative punch to the gut.
I'm truly inspired by individuals who hold the title of 'board member' on their CVs. Their role in shaping the direction of organisations has always fascinated me. Recently, I stumbled upon Dambisa Moyo's book, 'How Boards Work,' and it turned out to be a revelation.
While I wish it had a chapter that delved deeper into the motivations for aspiring to join a board and the rewards that come with it, the book was an unexpected treasure trove of insights.
Nonetheless, It was quick to the draw, definitely, well written and well, and a lot more than I bargained for.
It is true, a book is the biggest steal ever. It stole my time and replaced it with knowledge and inspiration.
Thank you Dambisa Moyo, you have inspired a new one.
I'm truly inspired by individuals who hold the title of 'board member' on their CVs. Their role in shaping the direction of organisations has always fascinated me. Recently, I stumbled upon Dambisa Moyo's book, 'How Boards Work,' and it turned out to be a revelation.
While I wish it had a chapter that delved deeper into the motivations for aspiring to join a board and the rewards that come with it, the book was an unexpected treasure trove of insights.
Nonetheless, It was quick to the draw, definitely, well written and well, and a lot more than I bargained for.
It is true, a book is the biggest steal ever. It stole my time and replaced it with knowledge and inspiration.
Thank you Dambisa Moyo, you have inspired a new one.
August 12, 2023
This is a book about the way that company boards operate at the interface between commerce, law and government. In many ways it gives cause for optimism. There is apparently lot of good that comes from the board's negotiation between investor needs, societal demands, consumer wants and government legislation. The reliability of the board's understanding with a corporation is brought into question, briefly, however. The question of the desirability of leaving ethical decisions up to companies as opposed to government is not addressed
April 1, 2025
While the author has had an impressive career sitting on various boards, this book only provides a broad introduction into the workings of company boards. Those seeking more technical details ought to look elsewhere.
UK boards are covered to an extent but this book mainly covers the US. There is a reference to the two-tier board structure of Germany and other other European countries.
The author does best with macrotrends and makes a some interesting points; however, her erroneous explanation of the inventory turnover ratio did reduce my trust in the remainder of the book.
UK boards are covered to an extent but this book mainly covers the US. There is a reference to the two-tier board structure of Germany and other other European countries.
The author does best with macrotrends and makes a some interesting points; however, her erroneous explanation of the inventory turnover ratio did reduce my trust in the remainder of the book.
October 25, 2021
Really good book providing insight into the role that boards have in corporations and the challenges they face. It's interesting because so few people ever get a view into how the board is meant to interact with senior management, what board discussions and decisions may generally cover, and the limitations and tradeoffs that exist. This book is a great overview of these topics. Also, it has one of the best dedication pages I've seen for a non-fiction work.
January 28, 2022
I finished this book, but was quite bored and disapointed all the way through. Very accepting of lean in white feminism, disregarded mention of colonialism in some very old instiutions and gave name dropping and brief examples of boards at work. Started off interesting, but then devolved into a book that totally lacked depth, reflection or explantory power. A shame, as Dead Aid is fantastic.
February 23, 2023
Lays out some of WHAT boards need to navigate, but actually says almost nothing about HOW they do this. It is more a description of the landscape that all companies exist in today than it is a window into the inner workings of a board room. It largely could have been written by someone with no board experience.
August 31, 2021
It seems like the reason the book was written was to serve as an application for the author to get on more boards. Half of it is definitions and the other half is a jumble of completely uncontroversial MBA-speak strategy jargon about how great boards and CEOs are.
July 13, 2022
One of the best books that I have come across that has ignited my interest on corporate strategy and governance. The author has clearly laid down the function of the board that I wish organisation boards around the world would take a leave from it.
This entire review has been hidden because of spoilers.
July 2, 2023
Board manual for current and upcoming board members.
Quite a good. Moving on to your other books. I love books that have flow. It ends abruptly though. I didn't see it coming only to be hit by acknowledgements.
Quite a good. Moving on to your other books. I love books that have flow. It ends abruptly though. I didn't see it coming only to be hit by acknowledgements.
August 2, 2024
This book is the classic case of “great marketing title” but with hardly anything meaningful and of substance to learn about how boards work. The generic nature of content is quite subpar. Wouldn’t recommend.
October 5, 2024
How boards work
This book gives insights to how boards deal with various issues legal regulatory technology executive hiring and strategy. To achieve global dominance organisations need board members drawn from different disciplines to avoid group think.
This book gives insights to how boards deal with various issues legal regulatory technology executive hiring and strategy. To achieve global dominance organisations need board members drawn from different disciplines to avoid group think.
January 8, 2025
Went into this with a lot of expectations but came out disappointed. The book doesn’t really offer much by way of new or unique insight. I could have learned a lot of the ideas in it from Google searches.
Read
June 14, 2021A great look at how boards work, what they should be looking for, and how they need to adapt.
June 25, 2021
If you work for a corporation, this book will help you better understand how your corporation works. You start to get a sense of what the Boards wants the culture to be. I really liked this book.
August 16, 2021
To be reviewed in the November-December issue of Global Business and Organizational Excellence
March 5, 2022
A good book for anyone who wants a general understanding of how boards work
Displaying 1 - 30 of 37 reviews