The author proposes a corporate governance model based on value creation for financial as well as for non-financial stakeholders (that is stakeholder value based governance STVG). The paper shows that new Boards roles should be based on the transition from traditional balanced governance approach to the new one strategically focused governance. It is demonstrated that Boards are responsible for a new value mindset based on the concept of the firm driven by the harmony of multiple stakeholders interests. The shifts in the functions of Boards that fit the harmony-driven firm are introduced
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