Effective board management requires that directors take their responsibilities serious, commit themselves to the process, and strive to improve. It also requires a solid infrastructure for support that allows the board to perform its best job and boosts the work of board members and the management team. This includes the governance processes, systems and tools in place for meetings planning, creation of materials in the portal, logistics management, and materials creation.
The most efficient boards are those that undertake a thorough analysis of mission-critical drivers and risks, and focus on the engagement of the key stakeholders. This includes requesting reports on supplier, customer and other key stakeholder behaviors and trends as well as opportunities and headwinds in the economy. It also means getting out into the field to observe the way the company works and bringing these insights back for discussion with the board.
This pillar is based on www.boardroomevent.com/data-security-—-a-note-on-standards-and-certifications/ the trust and respect between board members, which need to be present in order to allow for quality discussion and debates. It is also necessary to create an environment where it is accepted and even expected that the board can disagree with management.
The ability of the board to accomplish its job depends on the quality and accessibility of the information. Leading boards are able to effectively make decisions through the use of an information infrastructure that is in line with the board’s mission, engagement model and vision for excellence. This includes a clear matrix of authority (sometimes referred to as a RACI Map) that clearly determines who is responsible for, accountable, consultative or knowledgeable about specific subjects and when these roles and responsibilities have been fulfilled.