The document discusses the challenges and dilemmas boards face in balancing innovation and entrepreneurship with oversight and control. It argues that successfully transitioning a board from a controlling to governance model takes at least two years of board activity and evolution, not revolution. Key aspects of this transition include establishing board committees and administrative support, engaging independent directors, developing a strategic discussion culture, and clarifying the roles of the chairman, CEO and board as a whole. The ideal board functions as both a strategic thought partner and control mechanism through a "loose-tight" dichotomy.