Crazy Cures for Common Corporate Catastrophes

Below is a list of no-brainer cures for the common corporate catastrophes. More detailed explanations of these three suggestions will follow later this week.

1) National Board of Directors: A national board of directors designed to oversee the activities of corporations headquartered (or with significant business conducted) in the United States with the goal ensure that major business decisions are made long term economicwell-being of the corporation, its related stakeholders (including shareholders, employees, and the public at large), the United States. The board is open to any individual with citizenship (sole or dual) in the United States who successfully completes a rigorous executive fitness program administered by the Brookings Institute.

2) Rotating Boards: The Boards of Directors of a corporation must be certified, much like accountants (CPA). While the Chairman of a Board can remain in place as long as the shareholders vote them into office, Board members must rotate. Each Board member must serve a specific role, such as: stakeholder responsiveness, shareholder responsiveness, responsiveness to the economy at large, etc. To ensure smooth transition periods, the rotations should not happen en masse; board member rotations should be staggered.

3) Make the incorporation process more detailed and rigorous. By incorporating, the public becomes accountable for the failed business. The goal of making the incorporating process more rigorous is to decrease the number of corporations to indirectly decrease the risk exposure of business failure to the public at large. This would have the added benefit of creating more opportunities for entrepreneurs and small business.