Book Title: Inside the Boardroom: How Behaviour Trumps Rationality
Author: R. Gopalakrishnan and Tulsi Jayakumar
Publisher: Rupa Publications India
Number of Pages: 224
ISBN: 978-9357025126
Date Published: Sept. 5, 2023
Price: INR 474
Book Review
Corporate governance refers to the system of rules, practices and processes by which a company is directed and controlled. Corporate governance is an essential aspect of modern business and critical to a company’s health and success. The board of directors is a crucial player in the corporate governance process and plays a vital role in overseeing the management and operations of a company. The role of the board of directors is to provide strategic direction and oversight for the company.
They are responsible for making important decisions that affect the company’s performance and focus. The board of directors is also responsible for selecting and evaluating the CEO’s performance and ensuring compliance with laws and regulations. The board of directors is accountable to the company’s shareholders and is involved in decision-making processes that affect the company’s performance.
“Inside the Boardroom: How Behaviour Trumps Rationality” is a book by R. Gopalakrishnan and Tulsi Jayakumar that examines the role of human psychology and emotions in corporate governance and decision-making. The book is based on the authors’ extensive experience and research on various corporate failures and successes in India and abroad.
The book argues that directors’ behaviour in the boardroom is often influenced by power, passion, authority, and peer pressure, which can lead to irrational and biased choices. The book also suggests that effective directors and boards must be aware of these behavioural pitfalls and adopt a more holistic and ethical approach to governance.
The book is divided into eleven chapters, each focusing on a different aspect of boardroom behaviour and its impact on corporate governance. The book is written clearly and engagingly, with numerous examples and anecdotes from real-life situations. The book also provides practical tips and tools for directors and boards to improve governance practices and avoid common mistakes. The book is not only informative but also thought-provoking and inspiring. The book challenges the conventional wisdom and assumptions about corporate governance and encourages the reader to think critically and creatively about the role of human behaviour in boardroom dynamics.
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“Inside the Boardroom: How Behaviour Trumps Rationality” is a valuable resource for anyone interested in or involved in corporate governance, whether as a director, a manager, an investor, or a stakeholder. The book is also relevant for anyone who wants to understand the psychology and sociology of human behaviour in organisations and groups. The book is a must-read for anyone who wants to learn from the successes and failures of some of the most prominent companies in India and the world.
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