How does the time spent with the company's board of directors impact the CEO's decision-making process?

The time a CEO spends with the company's board of directors can significantly impact their decision-making process. The board of directors provides strategic guidance, approves major decisions, and holds the CEO accountable for the performance of the company. Therefore, the interactions and discussions with the board can shape the CEO's decisions regarding the company's direction, strategy, and operations. However, the exact impact can vary depending on the dynamics of the board and the CEO's relationship with the board members.

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While the CEOs the researcher surveyed spent the majority of their time (70%, on average) dealing with internal constituencies, a good chunk (30%, on average) was spent with outsiders: 16% with business partners, such as customers, suppliers, bankers, investors, consultants, lawyers, PR firms and other service providers; 5% with the company's board of directors; and 9% on other outside commitments (service on other boards, industry groups, dealing with the media and the government and community and philanthropic activities).

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