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Boards Should Build Diversity For Maximum Performance

Boards Should Build Diversity For Maximum Performance

Boards Should Build Diversity For Maximum Performance

Varied perspectives can improve fundamental management decisions

By Eric Vieland
Montgomery, McCracken, Walker & Rhoads, LLP

A healthy board of directors serves an important function that an individual manager, no matter how skilled, could not. It provides a reservoir of diverse knowledge and experience, deeper and broader than that which an organization can muster on a daily basis.

Many boards will tend to drift with little diversity, since it is usually easier and more comfortable for a board to identify new members who are much like the existing members. But diversification is an important process, and a rewarding one for organizations that pursue it diligently....

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