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The role of the board of directors in crisis

Meert, Tanguy
(2017)

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MeertTanguy_85731200_2017.pdf
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MeertTanguy_85731200_2017_Annexe.pdf
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Details

Supervisors
Sarens, Gerrit
Faculty
Louvain School of Management
Degree label
Master [120] en sciences de gestion
Abstract
This study analyses the role of the board in crisis. This topic is relevant as today’s organizations are operating in a risky, uncertain and turbulent environment exposing companies more and more to crises. Based on literature reviews and semi-directive interviews (10), three main roles of the board in crisis could be identified. First, the board has a role in preventing and anticipating crises. To do so, it has to foster a “culture of risk management”, bring a flexible and efficient structure, and ensure a high level of transparency. Subsequently, once the crisis hits the company, the board has an important role managing it by taking more responsibilities, putting in place the adequate management, reshaping the company, and many other interventions linked to damage control. Finally, the board has to put in place post-mortem mechanisms in order to be able to learn lessons from various crises.