Deciding on the strategic direction of a corporation is complex and increasingly so in the volatility, uncertainty, and ambiguity that characterises the strategic options facing a company today. Faced with this complexity, the model of governance, which has largely remained unchanged for many decades, raises several important questions. Economic theories of corporate governance have held sway for over three decades and have exerted considerable influence on board studies and writings on the subject. In particular the agency paradigm and its assumptions, has de-emphasised the human side of...