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Boardroom Decision-Making and Global Grand Challenges

Principal Supervisor:

Dr Pieter-Jan Bezemer

Associate Supervisor:

Professor Gabriel Eweje

Abstract

The board of directors plays a central decision-making role in the governance of the public corporation. They generally add value through the (i) monitoring of management, (ii) provision of advice and access to critical resources, and (iii) setting of the long-term strategy of companies. Diligently fulfilling these tasks is becoming more challenging as sustainability has emerged as a critical and multifaceted concern in boardrooms, with boards facing increased stakeholder demands and pressures around societal issues such as climate change, slavery and human rights, gender equality, and depleting natural resources. This shift is underpinned by the growing consensus that boards must play a more active role in aligning corporate strategy with environmental and social sustainability objectives, as a core component of social responsibility. Intensified stakeholder oversight, coupled with evolving regulatory frameworks, has compelled organisations to reassess conventional business models and incorporate sustainable practices into their strategic agendas. Accordingly, boards are increasingly expected to facilitate long-term value creation by embedding sustainability concerns into high-level decision-making processes. This paradigm shift not only reinforces corporate legitimacy but also contributes to risk mitigation and drives innovation, thereby enhancing the organisation’s long-term competitiveness and resilience.

This issue takes boards into unfamiliar territories with limited lessons from the past being able to guide them. This raises important questions: (i) how do boards acquire the right knowledge and skills to engage with today’s grand challenges? (ii) what barriers hinder board understanding of sustainability issues, and how can corporate governance and policy reforms strengthen their capacity to address them? (iii) how should boards effectively integrate these issues into their strategic decision-making? and (iv) what kind of support is needed to assist boards in dealing with these new challenges?

Please refer to PDF for further information.

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