COVID-19, recession, extreme weather events, deep-seated social unrest, and an increasingly polarized global community all paint a picture of a daunting and opaque business and risk environment for the year ahead. The pressure on employees, management, boards, and governance will be significant. Private company boards should see 2021 as an opportunity to fine-tune strategy and corporate governance, with demands for greater attention to corporate purpose and stakeholder views, corporate culture and incentives, diversity and inclusion, the richness of boardroom dialogue and debate, and the company's (and board's) readiness for the risks and opportunities ahead. There are several issues that KPMG highlights as private company boards carry out their 2021 agendas.
Nine issues private company boards should consider as they carry out their 2021 agendas:
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