Effectiveness of management at the board level is a key aspect of board governance. The effectiveness of a board is determined by a variety of aspects that include its composition (the appropriate mix of expertise and experiences), the efficiency of meetings and the culture of open communications, and the willingness to have real conversations, especially difficult ones. The more efficient a board is, the more competent it will be in setting the direction for the organization and challenge its performance.
The annual self-assessment process for boards ranges from a simple director questionnaire to an intensive interview process, usually conducted by a third party that can offer insights into the http://yourboardroom.net/ceo-vs-chairman-vs-president-responsibilities board’s dynamics and general level of board maturity. These assessments aid boards in understanding how their current practices are against best practice and can provide a clear plan of action for areas in which improvements are needed.
The key to board management effectiveness is to create a collaborative environment where directors view themselves as partners, not adversaries. This can be achieved through the development of the Board and the refreshment of the Board, such as the willingness to review mandatory retirement schedules and the length of their term limits.
Another way to boost productivity between meetings is allowing directors to access and communicate with one another via dedicated communication tools like discussion boards or remote voting. This can cut down on the time-consuming face-toface discussions and help to ensure that every action item and task are completed on schedule. Board members can spend less time working on administrative tasks, and more time directing changes.
