helpful resources

The dimension of board management effectiveness of the board assessment process examines the board’s processes to manage the agenda of the board, meetings and distribution of written reports. It is essential to ensure that every item on the agenda has clear responsibilities, timelines, and quantifiable results.

Another aspect to consider is the board’s ability to understand and respond quickly to business challenges and risks. Boards need to be flexible in their approach, no matter if it’s shareholder activism, or cyber-security.

Additionally, the ability of the board to support and inspire the CEO and executive management team is essential in allowing them to fulfill their day-to- task. A thorough assessment of the board can assist in reestablishing specific roles and responsibilities of the C-Suite and the board of director to ensure that everyone is working towards the same goal.

The board’s understanding of business is broader than just what management tells them and includes their own research into suppliers, customers, and other key stakeholder behaviors as well as economic challenges and opportunities. Board members are also able to visit the websites and engage with management in a casual way between meetings to gain direct information.

The board has an information management system that is well-defined and understood. It offers the necessary level of detail to make informed decisions. This could include a board report and notice matrix that clearly identifies matters that require oversight by the board (mission-critical) and those that don’t (management issues). A governance framework that outlines the board’s role in each of these areas could be beneficial.