经济管理外文翻译----风险管理幸存者的前车之鉴(编辑修改稿)

经济管理外文翻译----风险管理幸存者的前车之鉴(编辑修改稿)内容摘要：

Davos meeting who had been active in recovery from the Haitian earthquake reported that in some areas, relief agencies provided fresh water to survivors free of charge, while in others a modest charge was imposed. The latter practice would help ration and allocate a still scarce resource, vital for recovery. But the physician found that cholera spread far more often through camps that charged for water than through camps that didn39。 t charge, evidently because even a small cost led survivors to use less water in personal hygiene and food preparation. While charging a nominal amount for potable water made good economic sense, the experience here called into question whether it made public health sense. Redesigning the Board The governing board is potentially one of the most pivotal places for the introduction of risk management practices in the view of those attending an annualmeeting session on Redesigning the Board. Chaired by Berkeley professor Laura D39。 Andrea Tyson, who serves on the boards of several publicly traded panies, the dialogue drew on the experience of Donald J. Gogel, CEO of Clayton, Dubilier amp。 Rice。 Richard Haythornthwaite, chair of MasterCard Worldwide。 Kevin Kelly, CEO, Heidrick amp。 Struggles。 Davide Serra, managing partner of Algebris Investments, and Daniel Vasella, chair of Novartis. Leaving aside the question of whether pany boards contributed to the recent financial crisis, the boardroom could serve as a barricade against the next crisis if properly redesigned. The board39。 s traditional focus has been on pliance, control and pensation, fulfilling the oversight function mandated by both government regulators and listing requirements. But that is no longer sufficient, suggested several panel members. Directors should also be engaged in pany strategy, talent development and risk management. It is a matter of not only feeding the beast providing investors with expected quarterly returns but also building the business advising executives on strategic direction and appropriate risk. To that end, directors should bring not just oversight capabilities to the boardroom. They should also be ready to challenge management practices, exercise independent judgment and resist when executive actions pose excessive risk. It goes the other way, too, suggested one veteran board member: The worst thing is when a management team does not speak out. Directors, another participant pointed out, want management to speak up with its concerns. For both sides to speak up, however, smaller boards make better forums. Seven to eight people can debate strategy, noted one governance veteran, the way a board of 15 cannot. If boards were once more ceremonial than substantive, more honorary than productive, that is a dying tradition in an era when directors are increasingly called or demand to serve as strategic advisors. Several directors reported that their boards regularly conduct 360degree feedback surveys of one another, inviting pany executives to appraise their individual performance as well. One board chair even interviews every board member, asking for their appraisals of the other directors, and he then circles back with feedback, mending each director for his or her contribution to the boardroom but also citing one area for the director39。 s improvement. Another director with extensive boardroom experience found that the one best question to ask of each director about the others is, If you were the only shareholder of the pany, would you want this person on the board? If well redesigned, pany boards can thus help their panies in a race to the top building longterm value and avoiding excessive shortterm risks rather than permitting a race to the bottom that had driv。