Effectiveness of management at the board level is a key aspect of board governance. The effectiveness of a board is based on several dimensions that include composition (the appropriate balance of abilities and experience) and meeting efficiency as well as the openness of communication culture and the willingness to have real conversations, even tough ones. The more effective a Board is in its ability to determine strategic direction and test the organizational performance.
The annual self-assessment process for boards ranges from a simple director questionnaire, to an elaborate interview process, often carried out by a third party which can provide insight into the board’s dynamics and the overall level of maturity of the board. These assessments can help boards determine how they are performing against best practices and develop strategies for improvement in areas that require improvement.
The key to board management effectiveness is to establish a collaborative environment where directors view themselves as partners, not adversaries. This can be accomplished by fostering board development and encouraging the refreshment of the Board, such as a willingness for them to reconsider mandatory retirement schedules as well as the length of their term limits.
Another method of increasing efficiency between meetings is by http://yourboardroom.ne allowing directors to share information with each other by using dedicated communication tools like discussion boards and remote voting. This can cut down on the time-consuming face-toface discussions and help to ensure that all action items and tasks are completed on schedule. As a result, board members can spend less time on administrative work and more time driving changes.