Effectiveness of management at the board level is a critical element in board governance. The effectiveness of a board depends on a variety of factors such as composition (the right balance of expertise and experience) efficient meeting and a environment of open communication and the willingness to engage in actual conversations, even the tough ones. The more effective a Board is in its ability to establish strategic http://yourboardroom.net/ceo-vs-chairman-vs-president-responsibilities direction and challenge performance of the organization.
Self-assessment for board members every year ranges from a simple director questionnaire to a more robust interview process, usually performed by a third party, that can provide insights into the dynamics of the board and the overall level of maturity of the board. These assessments assist boards in understanding how their current practices stack up against best practices and can lead to a clear plan of action for areas where improvements are needed.
A key to improving the effectiveness of board management is establishing a culture of collaboration that allows directors to view themselves as collaborators and not as adversaries. This can be fostered through training for board members and through encouraging a refreshment of the board. This includes the willingness to reconsider mandatory retirement schedules or the length of time.
A great way to boost efficiency between meetings is to allow directors to share and access information through dedicated communication tools like discussion boards and remote votes. This can help reduce the need to have lengthy face-to-face meetings and ensure that each action item and task are completed on time. As a result, board members spend less time in administrative tasks and spend more time driving changes.