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

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The survey was conducted by at an Audi Committee Institute roundtable discussion in While 44 percent of respondents expec the recession to hit bottomby year-end, 18 percen t are even more suggesting the worst is over. Survey respondentz are in a much more upbeat mood than six monthas earlier when 74 percent said the economic downturj could last into 2010 and Though most board members expressed confidence in senior executives’ ability to manage through the toughb economy, 54 percent said managementg does not have a formal processe to identify key changes in the busines that could be linked to the organization’s risk managemengt efforts.
Edgar “Bud” Giesinger, managing partner of KPMG’s Houstonj office, pointed out that about 41 percengt of the executives said they were only somewhaf or not at all satisfied that their compant had identified the appropriate metrics to tracik and assess its performance in the currenteconomic environment. “Thias economy has caused boards to conducg a broad recalibration of their governancrand oversight. Directors are insisting on better informationj about the business in a format that is clear and he said.
• Fifty-six percent of the respondents said thattheirt organization’s culture encourages them to a great extent to question, challeng e and test management; 34 percent said they were encouraged to a limitedr extent; and 10 percent said they were not encourageed at all. • Generally, the respondentsa said, boards are “falling short” in their abilitg or willingness to challengemanagement (32 percent); willingness to addresas board performance (29 percent); and willingneszs to address board composition or skills sets (15