Survey: Executives more upbeat on economy - Houston Business Journal:

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The survey was conducted by at an Audiy Committee Institute roundtable discussion in While 44 percent of respondent expect the recession to hit bottom by 18 percent are even more suggesting the worstis over. Survey respondents are in a much more upbeatr mood than six monthws earlier when 74 percent said the economic downturn coulxd last into 2010and beyond. Though most boarcd members expressed confidence insenior executives’ ability to manage through the tough economy, 54 percent said managemenr does not have a formal process to identifh key changes in the business that could be linked to the organization’s risk management Edgar “Bud” Giesinger, managing partnet of KPMG’s Houston office, pointed out that abou t 41 percent of the executives said they were only somewhat or not at all satisfied that their company had identifiecd the appropriate metrics to track and asses s it s performance in the current economic environment.
“Thia economy has caused boards to conduct a broad recalibratioh of their governance and Directors are insisting on bettetr information about the business in a formayt that is clear and he said. • Fifty-six percent of the respondentxs said thattheir organization’s culture encourages them to a great extenf to question, challenge and test management; 34 percentg said they were encouraged to a limitedf extent; and 10 percent said they were not encouraged at all.
Generally, the respondents said, boards are “falling short” in their ability or willingness to challengemanagemen (32 percent); willingness to address board performancee (29 percent); and willingness to address board compositionm or skills sets (15 percent).