Obey top management, or be overlooked (2,2,3,5)
I believe the answer is:
go by the board
'overlooked' is the definition.
(I've seen this before)
'obey top management or be' is the wordplay.
I cannot really understand how this works, but
'be' could be 'go' (going is a kind of being) and 'go' is found within the answer.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for go by the board that I've seen before include "accept chalked notice is correct?" , "Take directors' lead" , "Assume posted information is correct" , "meet disaster" , "Be influenced by the directors" .)