Organizations face an uncommon and growing number of future disruptions to the status quo and the best laid strategic plans. As history repeats itself, organizations once considered as effective will most likely fail unless currently associated and related risk factors of management and governance models are incorporated into scalable resilience metrics. In order to thrive and prosper in the current business environment of volatility, dynamism and change, it is therefore necessary that firms must ensure they
corporate governance as a device where a board of director is essentially a monitoring mechanism to maximize the problems brought about by principal agency connection. Mallin (2004), explained in this context that agents are managers, principal are owners and board of directors are monitoring device. Many researchers has examined the board composition due to the importance of the monitoring and governance function of the board (Barnhart, Mar and Rosentein 1994: Pearce and Zahra 1992: Gales and Kesner
construct buildings, to the way we fight fires today. The great London had started as a small fire in the early morning of Sunday, September 2, 1966 and raged on for four days. The fire had started in a bakery that was also a house on Pudding Lane. The owner had been awakened by his apprentice as