The research

What research says about governance styles and board effectiveness

Board effectiveness is shaped by more than who is in the room. Research on board behavior points to differences in how directors gather information, focus attention, challenge, interpret and engage. This assessment is designed to make those patterns more visible.

What it measures

Ten forced choices about how you engage in a board conversation. The result names the perspective you bring most readily, the one that backs it up, and how that sits against every other director who has taken it.

The four perspectives are not personality types. A director brings one of them more readily than the others, and which one it is can shift with the board, the stage of the company and the decision in front of the room. Naming it is a way to see what a board has plenty of and what it is short of.

The four governance styles

Steward

Protect what matters.

Contributes stability and judgment

You bring stability, sound judgment, and a long-term perspective. You help organizations preserve what matters while ensuring decisions are grounded in experience and good governance.

Most likely to ask in the room“Before we decide, can we live with this in three years?”

Strengths

  • Calm under pressure
  • Trusted judgment
  • Strong governance instincts
  • Protects culture and reputation
  • Balances competing interests
  • Earns confidence through consistency

Blind spots

  • May rely too heavily on precedent
  • Can underestimate the pace of change
  • May avoid necessary risk, even when warranted
  • Can unintentionally slow innovation

Strategist

Shape what’s next.

Contributes direction and opportunity

You naturally connect today’s decisions with tomorrow’s opportunities. You help the board think beyond operations toward long-term value creation.

Most likely to ask in the room“Does this still make sense against where we are trying to get to?”

Strengths

  • Strategic thinking
  • Opportunity identification
  • Future orientation
  • Connects ideas across disciplines
  • Inspires ambition
  • Keeps the board focused on the horizon

Blind spots

  • May overlook operational realities
  • Can move ahead of organizational readiness
  • Sometimes assumes alignment that doesn’t exist
  • May lose patience with governance details

Catalyst

Drive meaningful change.

Contributes momentum and innovation

You bring energy to the boardroom. You challenge assumptions, encourage new thinking, and help organizations move from discussion to action.

Most likely to ask in the room“What are we treating as fixed that no longer has to be?”

Strengths

  • Challenges conventional thinking
  • Creates momentum
  • Encourages innovation
  • Comfortable making difficult decisions
  • Energizes discussions
  • Pushes for progress

Blind spots

  • May move faster than others are ready for
  • Can create change fatigue
  • Sometimes values speed over consensus
  • May unintentionally overlook governance process

Navigator

See around corners.

Contributes awareness and adaptability

You naturally look beyond the obvious. You connect emerging signals, identify risks early, and help organizations prepare for uncertainty.

Most likely to ask in the room“What has shifted outside this room that we have not accounted for?”

Strengths

  • Pattern recognition
  • Systems thinking
  • Risk awareness
  • Curiosity
  • Anticipates disruption
  • Comfortable with complexity

Blind spots

  • Can see too many possibilities
  • May overanalyze before acting
  • Can overwhelm others with scenarios
  • Sometimes struggles to prioritize

The research

Seven papers the instrument leans on. Every one was checked against the publisher's record rather than a secondary summary.

Argues that directors’ prior experience, expectations and routines for processing information shape how a board behaves. The clearest support for the idea that directors bring habitual patterns into the room.

van Ees, H., Gabrielsson, J., & Huse, M. (2009). Toward a Behavioral Theory of Boards and Corporate Governance. Corporate Governance: An International Review, 17(3), 307–319.

doi.org/10.1111/j.1467-8683.2009.00741.x

The foundational paper treating a board as a decision-making group whose effectiveness depends on how directors exchange information and interact.

Forbes, D. P., & Milliken, F. J. (1999). Cognition and corporate governance: Understanding boards of directors as strategic decision-making groups. Academy of Management Review, 24(3), 489–505.

doi.org/10.5465/amr.1999.2202133

Built on 418 director questions across nine observed meetings. Its central finding is that challenge is muted in public sessions and substantive in private.

Pernelet, H. R., & Brennan, N. M. (2023). Challenge in the boardroom: Director–manager question-and-answer interactions at board meetings. Corporate Governance: An International Review, 31(4), 544–562.

doi.org/10.1111/corg.12492

Models board decision-making in three phases, discovery, deliberation and decision, and argues that synergy across them is what reduces bias.

Krause, R., Withers, M. C., & Waller, M. J. (2025). Reducing Bias through Board Decision-Making: An Information-Processing Model of Board Decision Synergy. Academy of Management Review, 50(4), 788–810.

doi.org/10.5465/amr.2022.0271

Boards do not attend equally to everything. Where attention goes is itself a governance behavior.

Schiehll, E., Lewellyn, K., & Yan, W. (2023). A configurational perspective of boards’ attention structures. Corporate Governance: An International Review, 31(5), 676–696.

doi.org/10.1111/corg.12493

Videotaped board meetings, treating how directors actually talk to each other as an indicator of decision quality.

Bezemer, P.-J., Nicholson, G., & Pugliese, A. (2014). Inside the boardroom: exploring board member interactions. Qualitative Research in Accounting & Management, 11(3), 238–259.

doi.org/10.1108/QRAM-02-2013-0005

Uses the language of style directly, and links differences in how boards decide to shared mental models, power relationships and the chair.

Bailey, B. C., & Peck, S. I. (2013). Boardroom Strategic Decision-Making Style: Understanding the Antecedents. Corporate Governance: An International Review, 21(2), 131–146.

doi.org/10.1111/corg.12008

Authors

Paula Fontana

Paula Fontana

Founder & CEO, Eudai. Board director and CMO.

Works with leaders making material decisions in unfamiliar territory: how to grow a company, govern AI, prepare for disruption, or bring a new category into focus. Board director and CMO at iluminr, and founder of Eudai, where she works with risk, security and technology companies on positioning and go to market. Serves on the Private Directors Association’s Board Research & Standards Council and its AI Governance Task Force, and cofounded Vela Board Advisors. Co-hosts Uncharted, a podcast about the decisions leaders make when there is no playbook.

linkedin.com/in/fontanapaula
Marva Bailer

Marva Bailer

Founder & CEO, Qualaix. Board director and strategic advisor.

Board director and global executive with a track record of leading more than $1B in revenue and expanding into new markets across healthcare, government, energy, retail and manufacturing. Has led more than 20 M&A integrations, enterprise programs from $20M to $100M, and matrixed organizations of 5,000 people. Now an independent board director and advisor on AI, cybersecurity and growth, and a doctoral candidate in AI governance. Author of Be Unexpected, a three time TEDx speaker, and a member of the Harvard Business Review Advisory Council and the NACD.

linkedin.com/in/marvabailer

Which perspective do you bring?

Ten questions, about three minutes.

Take the assessment