Effectiveness of management at the board level is a crucial aspect of board governance. The effectiveness of the board is determined by a variety of factors that include its composition (the appropriate mix of expertise and experiences), the efficiency of meetings, the culture of open communication and the capacity to have real conversations, especially difficult ones. The more effective a Board is more effective, the better it is able to set strategic direction and challenge organizational performance.
The annual self-assessment process for boards ranges from an easy director questionnaire to a more robust interview process, usually conducted by a third party, that can provide insights into the dynamics of the board and general level of board maturity. These assessments help boards understand how their current practices are against the best practices, and can lead to a clear plan of action for areas where further improvement is required.
The key to board management effectiveness is to create a culture in which directors see themselves as collaborators and not adversaries. This can be fostered through board development training and through encouraging refreshment of the board, which includes the willingness to review mandatory retirement schedules or term limits.
A great way to increase productivity between meetings is to allow directors to share information and access it via dedicated communication tools such as discussion boards and remote votes. This can help reduce the need to have lengthy meetings face-to-face and ensure that all tasks and action items are completed on time. Board members are able to spend less time doing administrative tasks and spend more time implementing changes.
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