You have probably attended a board meeting where decisions reached are not properly summarized for effective follow-up and accountability. And accordingly, no progress is visible. There are boards where the same issues keep coming up for discussion again and again. Sometimes it is a lack of resources allocated to dispose-off the issue. At other times, it is a lack of proper responsibility specified to champion the decision. Download the Free Template Here The 9th reason why board meetings fail is the inability to summarize action points or matters arising from the board meeting. The result is a lack of understanding…
Is your board empowering you?
The issue Majority of Board members add little impact on the organizations they serve. Even worse, they act counter-intuitive to their mandate. In the end, they add minimal, if any impact on the organizations. Many board members bring dysfunction as their practices make it difficult for executive management to do their work. The cause Few board members have clarity of their role and mandate of the board. My personal experience is that it is difficult for a board member to make an impact in any company if the majority board members lack adequate skills, training, and exposure on the role…
How to evaluate the board’s effectiveness
To effectively evaluate the board, you must have set targets against which you are evaluating the board members. This calls for an effective governance structure and separation of powers. At the topmost, there must be the owner of the business. For publicly listed companies, these are shareholders with an equity certificate. The shareholders, at the AGM or annual general meeting, must elect the board members and set clear targets for the board so appointed. For emphasis, when the owner/ shareholders appoint the board, she/he must give them a score card or targets that are measurable. According to Kaplan and Norton,…
How to conduct the business of the Board
The role of Board is to promote long term success of its stakeholders. This looks at the going concern for the fore feeble future of the business to ensure that the business does not collapse. The board’s business is to look at long term perspectives. Instead of asking how to make profits, they ask how the business will remain competive for many years to come. The board is looking at bigger picture dynamics and how to position the business for unprecedented future success. They are focusing on strategy, how to remain responsive to customer needs and ensure the company meets…