Business people who serve on boards gain appreciation and understanding of people from backgrounds that are different from their own. This benefits companies since studies indicate that diversity and inclusion increase profitability. Additionally, companies have a significant reservoir of people from diverse backgrounds who would like to serve on boards, thus providing opportunities for leadership development.
Business people who serve on boards confront challenges that stimulate their leadership, creativity, and innovation. Additionally, they improve skills that enhance their performance at work, including strategic planning, decision-making, listening, collaborating, and partnerships. This experience and expertise will help their companies grow value.
Business people who serve on boards strengthen communities where their company’s employees and customers live and work. Board engagement also helps to advance the U.N. SDGs, including quality education, reduced inequalities, sustainable cities and communities, and partnerships for the goals.
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Compelling responses from business people who serve on nonprofit boards, and those who do not (yet).
About the author
Alice Korngold, President and CEO, Korngold Consulting LLC, provides strategy advisory services for board members and executives from multinational corporations, professional services firms, and global, national, and regional nonprofits. Her areas of expertise are board governance, ESG/sustainability/CSR, and diversity and inclusion. Korngold authored A Better World, Inc.: How Companies Profit by Solving Global Problems…Where Governments Cannot (Palgrave Macmillan, 2014) and Leveraging Good Will: Strengthening Nonprofits by Engaging Businesses (Jossey-Bass, a Wiley Imprint, 2005). She authored the chapter on Sustainability and Corporate Governance in the Handbook on Board Governance: A Comprehensive Guide for Public, Private, and Not for Profit Board Members (Wiley, 2016).
Korngold is a Visiting Professor for the Masters in Financial Accountability, York University, Toronto, Canada. She is a juror for the World Environment Center’s annual Gold Medal Award for International Corporate Achievement in Sustainable Development. Korngold received a B.A., history and an M.S.Ed., psychological services, from the University of Pennsylvania.