The effectiveness of the board’s management is an important element of governance for boards. The effectiveness of a board’s management is based on several dimensions, including composition (the proper balance of skills and experience) and meeting efficiency the environment of open communication and the willingness to have real conversations, even the most difficult ones. The more effective a board is, the http://yourboardroom.net/can-board-meetings-be-held-virtually more capable it will be to set the strategic direction and challenge organizational performance.
Self-assessment for board members every year ranges from a simple director questionnaire to a more robust interviewing process, usually conducted by a third party which can provide valuable insights into the dynamics of the board and general level of board maturity. These assessments can help boards to determine how they are performing against the best practices and create an action plan for areas that require improvement.
The most important factor in the effectiveness of board management is to create a culture in which directors see themselves as partners, not adversaries. This can be accomplished through training for board members and by encouraging regular refreshment of the board, including the willingness to reconsider the mandatory retirement schedules, or term limits.
Another way to drive productivity between meetings is by allowing directors to access and communicate with one another through dedicated communication tools, such as discussion boards and remote voting. This can help reduce the need for lengthy face-to-face discussions and ensure that all actions and tasks are completed on time. This means that board members are able to spend less time managing and spend more time driving forward with the process of change.
