"The 2018 boardroom agenda—Dealing with challenges old and new" from Deloitte's Center for Board Effectiveness provides an instructive big-picture sense of board vs. management involvement and the interaction of the two across a number of perennial and evolving topics - including board composition, social responsibility, corporate culture, and shareholder engagement - that are likely to impact the board's 2018 agenda. Each succinctly-explained topic is bolstered by thought-worthy actionable suggestions for directors from seasoned Deloitte management.
Consider, for example, this excerpt on social responsibility from the "Social impact" (pg. 2) discussion:
Boards often have significant responsibilities in overseeing whether and to what extent their companies "pivot" from the traditional corporate role to a newer, more socially responsible role.
"Companies are increasingly aware that what is socially good for brand is good for business, and conversely, that what is socially bad for brand is bad for business," said Debbie McCormack, managing director, Center for Board Effectiveness, Deloitte LLP. "Boards need to consider their company's social impact strategy, to help determine if and/or when to launch or enhance socially responsible activities."
As management is responsible for developing and implementing the strategy, the board's oversight role includes discussing the company's impact on the local and global community. Oversight also includes how management is assessing the risks arising from the nature and extent of any social responsibility/sustainability initiatives to be undertaken by the company.