To create a highly-performing, value-enhancing board is a matter of addressing numerous issues. This includes having the correct people on the board. It also involves fostering an environment that is positive, offering information that is easily accessible, streamlining processes and conducting regular reviews. It is not an easy task, and there are a lot of issues. Certain of these issues can be simple to fix while others are more elusive. The positive side is that a majority of these problems can be resolved.
A frequent issue is when a board does not perform in its duty to evaluate its own performance by creating internal structures and processes it requires. This usually means establishing committees or officers who are responsible for gathering, analyzing and regularly presenting data on performance to the board.
If this is not completed, the board could not be able to recognize its strengths and weaknesses. This can also hinder the board from taking appropriate action to improve its performance.
A board that does not follow through http://boardroompro.net with its agreed upon improvement plans is a different issue. This can happen if the board is distracted by other issues and loses focus on what was determined during its previous review.
Boards should conduct a thorough assessment of themselves at least once per year. BoardEffect’s built-in surveys help ensure accuracy and can serve as a basis for a complete board evaluation should it be required. By following this procedure boards can ensure that they are continually focusing on the most important issues and that their work contributes to the company’s success.
