This Element is an attempt to contribute to the extant literature on boards and corporate governance by exploring in detail the active involvement of the board in the purpose and strategy of the corporation in order to cope with a complex and uncertain environment.
1. Introduction; 2. The Nature of the Firm; 3. Strategy in a Complex and Uncertain Environment; 4. Strategy and Purpose and the Role of the Board; 5. Discussion, Reflection and Research Agenda, References.