What Drives Board Effectiveness in the Face of Uncertainty

Harvard Law School Forum on Corporate Governance (Sep 3, 2025) "What Drives Board Effectiveness in the Face of Uncertainty", based on research by the EY Americas Center for Board Matters with Corporate Board Member, argues the most effective boards are not just identifying risks but actively stress-testing strategic assumptions and building organisational agility. Key data: 91% of directors believe they clearly communicate risk appetite and 80% report management shows evidence of having understood it; a third of directors would like management to take more risks at present to act more aggressively in alignment with risk appetite. The two largest barriers to resilience and response to external change are industry disruption (50%) and greater-economy disruption (45%). Direct evidence base for SEA mid-market boards calibrating risk-appetite dialogue.