If it hasn't happened yet, it is only a matter of time before your organization has a 'cyber incident'. The FBI estimates that a cyber incident will occur every 14 seconds this year, ranging from minor, accidental disclosures of sensitive information to a major theft of data and other valuable assets by criminals, state-sponsored actors, or terrorists. The authors show that cyber threats are the result of three interrelated characteristics: those who engage in cyber attacks, or the Threat Actors; the value they expect to extract from the Targets they attack; and the 'Attack Vectors' they will use to attack your organization. Understanding how these three elements interact is critical for every modern leader.

At some point in their careers, most-if not all-executives aspire to become the CEO of their organization. And why not? These individuals tend to be highly ambitious. However, as with most things in life, aspiration is one thing, and execution is another. The author, who has worked closely with CEOs for 30 years as a board director, describes what it takes to be a CEO today. He shows that any would-be CEO must develop four particular 'directional' skills: upwards, downwards, outwards and outside-in, which enable him/her to be a Chief Relationship Officer, Chief Strategic Officer, Chief Communications Officer and Chief External Officer for the organization.

In the 1980s and 90s, funds that attacked publicly-traded companies were known as 'corporate raiders', and their attacks were brutish. Fearing reputational risk, most asset managers steared clear of such nasty attacks. Today, these funds are called 'activists', and they have gained respectability, as their campaigns are often based on an alternative view of corporate strategy-developed with significant investments of time, talent and money. As a result, fund managers are now willing to listen, and senior executives need to accept the reality of this 'golden age of activism', where trillions of dollars-yes, trillions-are being mobilized to improve the performance of publicly-traded companies. The author presents three new realities that every director and executive must embrace to thrive in the 'new normal'.

Boards of directors represent the shareholders of publicly-traded companies, validating financial results, protecting their assets, and counseling the CEO. It's a demanding responsibility, requiring directors to learn as much as they can about a company so that their insights stand up alongside those of executives. That, at least, is the ideal; but is it anywhere close to being the reality? Sadly, no, argues veteran director and educator David R. Beatty. In a wide-ranging interview with two McKinsey authors, he describes where many boards are lacking; the importance of focusing on the 3Ts (talent, time and tone), and why adding the CFO to every board is an idea worth considering. In a sidebar, the merits of family-run firms' governance models are discussed.

Family-owned businesses perform poorly on most accepted 'best practices' of good corporate governance, from majority voting to independent chairs. Could it be possible that they have an important lesson to teach publicly-held companies? Yes, say the authors, who discuss their latest research, which indicates that family-owned businesses are not only outperforming publicly-held businesses over time, but they are also leading the way on perhaps the most important best practice of them all: long-term thinking.

Anyone who keeps up with today's news knows that examples of governance failures abound and that Enron was just the tip of the iceberg. The fact is, the responsibilities of a modern Board Chair have evolved significantly in the past decade, and so too must the individuals who hold the post. The author, a long-time director and governance expert, advises Chairs to pay attention to the four 'Ts': mobilizing Talent, building Trust, managing Tensions and investing Time. He provides several tools for achieving each, and concludes that it is high time for our 'organizational conductors' to take control of unscripted virtuoso players and lead their orchestras to more harmonious outcomes.

According to the author, we are in the midst of a tectonic-plate movement in the financial world that is shaking the 'real' world quite dramatically. The purpose of the article is not to review the causes or longevity of the 2008-2009 finance crisis, but to explore the curiosity that in the world of publicly- traded companies, boards of directors have once again let society down. Complicating matters is the fact that, just as a re-balancing of the directors' role was taking shape post-Sarbanes Oxley, expected reforms in the areas of risk management and compensation will once again challenge director effectiveness. While boards will never be able to predict the future, the author argues that they can become more effective instruments for helping management devise plausible and actionable strategies if they do three simple things: take charge of their own agendas, manage their time effectively against three time horizons (past, present and future), and continually assess their performance against best practices.