Answers for “UK companies need more effective boards of directors” with explanation
| Answers | Keywords | Location | Explanations |
| 27.iv | the search for explanations in the many postmortems of the crisis has meant blame has been spread far and wide. Governments, regulators, central banks and auditors have all been in the frame.
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| 28.ii | The knock-on effect of this scrutiny has been to make the governance of companies in general an issue of intense public debate and has significantly increased the pressure on, and the responsibilities of, directors.
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| 29.vi | …….board business is devolved to committees in order to cope with the workload, which may be more efficient but can mean that the board as a whole is less involved in fully addressing some of the most important issues.
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| 30.viii | A radical solution, which may work for some very large companies whose businesses are extensive and complex, is the professional board, whose members would work up to three or four days a week, supported by their own dedicated staff and advisors.
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| 31.vii | One of the main criticisms of boards and their directors is that they do not focus sufficiently on longer-term matters of strategy, sustainability, and governance.
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| 32.i | Compensation for chief executive has become a combat zone where pitched battles between investors, management and board members are fought,
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| 33.iii | Boards of companies in all sectors will need to widen their perspective to encompass these issues and this may involve a realignment of corporate goals.
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| 34.YES | close scrutiny, behaviour of boards, | paragraph A, last sentence | The role of bank directors and management and their widely publicized failures have been extensively picked over and examined in reports, inquiries and commentaries. |
| 35.NOT GIVEN | banks, mismanaged | No information given. | |
| 36.NO | Board meetings, debate matters | paragraph B, lines 10-12 | Agendas can become overloaded and this can mean the time for constructive debate must necessarily be restricted in favor of getting through the business. |
| 37.NO | committee structure, significant issues | paragraph C lines 1-2 | Often, board business is developed to committees in order to cope with the workload, which may be more efficient but can mean that the board as a whole is less involved in fully addressing some of the most important issues.
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| 38.information | before 2008, non-executive directors | paragraph D, lines 10-11 | However…………….where the executives had access to information that part-time non-executive directors lacked, leaving the latter unable to comprehend or anticipate the 2008 crash. |
| 39.financial | boards, emphasize, of short-term relevance | Paragraph E, line 1-3 | One of the main criticisms of …. ..but instead concentrate too much on short-term financial metrics.
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| 40.shareholders/ investors | pay, board, accept, views of | Paragraph f, line 4-6 | Many would argue that …………..in the area of pay to pressure boards to remove……
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