Is Your Board the Best It Can Be?
On every CEO and senior leaders’ wish list is to work with a great board. The contrast between working with a great board and one that is ordinary is that the former is a pleasure while the other is more of a chore.
The difference plays out in that a great board will definitively outperform the ordinary board in aspects of leadership, overall effectiveness, and direct contribution to their organisation’s success. In addition, a great board can be an inspiration to the CEO and staff. Whilst the ordinary board will tend to be more passive, consumed with operational issues, and overly focussed on the regulatory requirements than being a creator and real contributor to their organisation’s performance and success.
So, what might some of the differences be?
Many suggest that a board is a team. Given that the word board is simply a way to describe a group of individuals, trying to get it to act as a team is futile. The board’s culture is however a different matter.
Ultimately each individual recognises that they assume both an individual role and responsibilities as well as a collective role and responsibilities. This group need to have a high level of respect for one another, a high level of trust and be prepared to engage in robust discourse with one another and the CEO and staff.
Before any decision is reached it should have had an opportunity of running the gauntlet of challenge, strong debate and a forum supporting any individual’s opinion that may shape and bring about the best possible outcome and decision.
Any board’s culture will be influenced by the chair. In fact, at any board meeting the tone and productivity will be heavily impacted by the chair’s role. The board’s culture is not just the preserve of the chair, other factors do play a role:
- CEO relationship with:
- Board Chair
- Board as a Whole
- Individual Directors
- Nature of Information and Board Papers generally
- Openness of Communications
Need Help with Board Impact?
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With such an agile operating and regulatory environment, engaging an independent specialist ensures your board is performing at its peak potential.
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