Question: Whom do you think make the best board members – people who are willing to take risks or people who are very cautious? Is there a group or profession of people which produces the ideal board member?
Answer: Both. A board needs members who can calculate risk carefully. It also needs people who take seriously their fiduciary responsibility and demonstrate more caution than the risk takers like to see.
Some boards have erred in the direction of reckless and irresponsible “blind faith”. They have gambled the resources of others and have lost, putting their organizations in financial jeopardy. Other boards have suffered from analysis paralysis where a group is afraid to take the first step into the unknown. In this case opportunities for service have been missed and the organization lost the opportunity to make the contribution they were formed to make. Read more