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The Duty To Think Strategically, Nadelle Grossman
The Duty To Think Strategically, Nadelle Grossman
Louisiana Law Review
Under Delaware corporate law, directors and officers have a duty to oversee their firm's management of risk to limit losses. Corporate law does not, however, require directors or officers to oversee their firm's management of strategy to create gains. Yet, managing both risk and strategy is essential to a firm in creating value. In fact, as I argue in the Article, the current focus by courts and commentators only on risk management to prevent losses could actually undermine a firm's management of its strategy for gains. I therefore propose a model for how Delaware corporate law can drive firms to …