THE BOTTOM LINE
Why family enterprises must move from ‘paper boards’ to real boards
Without strong governance structures, the board becomes the stage for conflict
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SOME boards look impressive on paper, but they exist more in form than in function.
In many Asean countries, boards in family enterprises are established largely as a matter of compliance to meet regulatory requirements, please external stakeholders, or project sophistication.
Yet beyond the formalities, these “paper boards” lack independence, accountability and authority.
