Board management effectiveness is an essential aspect of board governance. The effectiveness of a board is based on a variety of factors which include composition (the right balance of skills and experience) efficient meeting and a culture of open communication and the ability to engage in real conversations, even tough ones. The more effective a Board’s performance in its ability to determine strategic direction and test the performance of an organization.
The annual self-assessment process for boards ranges from a simple director questionnaire, to an extensive interview process, often conducted by a third party which can provide valuable insights into the dynamics of the board and overall level of board maturity. These assessments help boards understand how their current practices compare against best online board meetings practice and can lead to a clear plan of action for areas where further improvement is required.
A key to achieving board management effectiveness is establishing a culture of collaboration which allows directors to view themselves as collaborators and not as adversaries. This can be accomplished by training on board development and by encouraging a regular refresher of the board, including the willingness to review the mandatory retirement schedules or time limits.
One way to boost efficiency between meetings is to allow directors to share information and access it through specialized communication tools, such as discussion boards and remote voting. This can cut down on the need to have lengthy meetings in person and also ensure that every action item and task are completed on time. In the end, board members spend less time on admin and more time implementing changes.