Guberna, Dr. Kris Thys, 2024.
The role of the board of directors can vary. Traditionally, the board of directors is seen as the supervisor of top management. However, in practice, especially in medium-sized to large companies, boards of directors often take on a more advisory role, especially in strategic decisions. In many cases, the board of directors works closely with the CEO and other top executives in formulating business strategy. This leads to a kind of interdependence between the board of directors and the top management team in the strategic decision-making process. […] The collaboration between the top management team and the board of directors, as a strategic leadership system (SLS), impacts strategic decision-making in private companies. Three key dynamics have been identified within the SLS: collaboration, task conflict & leadership, and diversity in knowledge and experience.