Board Management Effectiveness

The effectiveness of the board’s management is an important element of governance for boards. A board’s effectiveness is based on a variety of factors such as composition (the right balance of skills and experience) and meeting efficiency the culture of open communication and the willingness to have real conversations, even difficult ones. The more effective a board is, the more able it will be of setting the strategic direction and challenge organizational performance.

Annual board self-assessment processes range from an easy director questionnaire to a more robust interview process, typically conducted by a third party which can provide insight into the dynamics of the board and overall level of maturity. These assessments can help boards assess how they compare to best practices and develop strategies for improvement to improve their performance in certain areas.

One of the most important factors in effective management of boards is to create a culture of collaboration which allows directors to view themselves as collaborators and not as adversaries. This can be fostered by training on board development and through encouraging refreshment of the board, including the willingness to review mandatory retirement schedules or time limits.

A great way to boost efficiency between meetings is to allow directors boardmaps software to share information and access it using dedicated communication tools, such as discussion boards and remote votes. This can cut down on the need for time-consuming face-to-face discussions and help ensure that each action item and task are completed according to schedule. In the end, board members spend less time on administrative work and spend more time implementing changes.