Good Governance: It's a Journey
Lloyd Shefsky Article
January 2023
Your family finally got it together and decided to take a family (business) trip.
Is the Past Prologue?
For years, Grandpa and Dad had been satisfied with their use of an advisory board. Clearly, those advisers helped the business grow substantially. Grandpa and especially Dad had been urged to convert from an advisory board to a statutory board but they rejected the notion. After all, that advisory board had helped them and the family achieve great success. Why seek new pastures, they said, when the existing ones are green and fertile? Often, advisory boards are most suitable, albeit sometimes as training wheels.
Prologue But Not Binding
Regrettably, Grandpa and Dad are gone. You're in charge now and you aren't tied to those ancestral advisers, even though you have continued with the status quo...
