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Agile philosophy has recently started to attract the attention of corporate governance scholars, who have mostly used it under the umbrella term of agile governance. Agile governance is an emerging phenomenon particularly occurring in the VUCA business environment, which demands agile boards and agile governance systems, in order to support organizational responsiveness, adaptability and flexibility. Despite this fact, the concept itself still lacks a clear definition, theoretical framework and discussion on its boundary conditions. To address these issues, by building on the literature of dynamic capabilities and corporate governance, in this paper we develop the concept of agile governance capability. By agile governance capability we refer to the capacity of boards to renew corporate governance practices, in particular decision making processes, with an aim to balance, as well as further strengthen business needs for agility, dynamics, and stability. In order to discuss their implications, we sculpt a conceptual model that includes ostensive and performative aspects of this new capability breed, along with a set of propositions related to their potential, power, effectiveness and practical applications. |
