Effectiveness of management at the board level is a crucial aspect of governance for boards. The effectiveness of a board is based on a number of aspects such as composition (the right balance of expertise and experience) and meeting efficiency as well as the openness of communication culture and the willingness to engage in real conversations, even difficult ones. The more efficient a board is, the better equipped it will be at setting the strategic direction and challenge organizational performance.
The annual self-assessment procedure for board members can vary from a straightforward questionnaire to an interview conducted by a third-party. This will provide insight into the dynamics of the board and maturity level. These assessments aid boards in http://yourboardroom.ne understanding how their current practices are against best practices and can provide a clear plan of action for areas in which further improvement is needed.
The key to board management effectiveness is to create a environment where directors view themselves as collaborators, not enemies. This can be fostered through training for board members and by encouraging regular refreshment of the board, such as the willingness to review mandatory retirement schedules or term limits.
Another way to drive efficiency between meetings is to allowing directors to access and communicate with one another using specialized communication tools, such as discussion boards and remote voting. This can help reduce the need to have lengthy meetings in person and also ensure that all tasks and action items are completed within the timeframes set by the board. Board members can spend less time working on administrative tasks, and more time implementing changes.