Board management effectiveness is a key element of board governance. The effectiveness of the board is determined by a number of factors that include its composition (the appropriate mix of expertise and experiences) and the effectiveness of meetings as well as the culture of open communication and the willingness to participate in real-time conversations, especially difficult ones. The more effective a Board’s performance in its ability to set strategic direction and challenge performance of the organization.
Self-assessment for board members every year ranges from an easy director questionnaire to an elaborate interview process, often conducted by a third-party, that can provide insights into the dynamics of the board and general level of board maturity. These assessments can help boards assess how they compare to the best practices and come up with an action plan for areas that require improvement.
The key to achieving board management effectiveness is to create a culture of collaboration that allows directors to view themselves as collaborators and not as adversaries. This can be fostered through training for board development and by encouraging a regular refresher of the board, which includes a willingness to reconsider the mandatory retirement schedules or term limits.
One way to boost productivity between meetings is to allow directors to share http://yourboardroom.net/ceo-vs-chairman-vs-president-responsibilities information and access it using dedicated communication tools, such as remote votes and discussion boards. This can help reduce the need for lengthy face-to-face discussions and ensure that all action items and tasks are completed on time. In the end, board members will spend less time on admin and spend more time driving change.
