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Learning to sniff out a crisis

Main fiduciary duty of corporate boards is to assist management in identifying and managing risk

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M MuneerRalph Ward
Every time a crisis breaks out — from the Satyam saga to the recent episodes in the Tata group, Infosys and Nestle — experts’ keyboards have been rattling one advice after another on how to manage boardroom crisis. Yet, too many board members wonder and seek our counsel as to what they should do to sniff out a crisis before it unravels. Obviously, tomes have not been written on that.
 
Ever since the 2008 global recession, most company boards in the US seem to be obsessed with risk management. However, we don’t see this trend in India where hardly
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