Review and Reflect/NACD Guidelines

The National Association for Corporate Directors (NACD) established guidelines which encouraged companies to align shareholders' and directors' interest in the compensation program for directors. This commission also developed some Best Practices of director compensation plans. Talk about three of the five Best Practices in your initial posting, sharing how you will engage the compensation team members to buy in on your reasons why these three practices spark the most interest to you. Share examples with at least one supporting article to support your rules of engagement. Be prepared as your classmates are privy to ask you some questions to help you along the way as they are on your compensation committee.

Outlook For The Future

Before writing, think about some of the key attributing variables that are causing managers roles to change. BE cognizant of two factors. First, that the business environment is in constant change and new circumstances will require new strategies and new approaches to implementing those strategies. Second, that strategic management is a young subject that is still in its early stages of development. Finding solutions to familiar and new business problems will require openness to new ideas, new concepts, and new approaches to strategy formulation and implementation.

Now, in your discussion question address the following questions:

• What will be the key developments in the global environment of business during the next five years?
• On the basis of these, what will be the greatest challenges that firms from the advanced industrialized countries will face?
• What strategies will firms need to adopt in order to prosper in the environment you foresee?
• What are the implications for these developments for firms' organizational structures, management systems, and leadership styles?