Boards of Directors: Adversaries or Advisers

Complaints about the impotency of boards of directors are not entirely justified and stem from a lack of appreciation of their potential (as opposed to kinetic) energy. Boards are a vital link in the corporate world's information chain and should be strengthened rather than curtailed. The organization of boards of large Japanese enterprises and the cooperative relationship which exists between the Japanese firms, labor, and government show what can be achieved through coordinated efforts.