Board effectiveness and evaluation
The board is the single most critical factor of an organisation’s success. It sets the tone and culture that permeates throughout the organisation, while providing strategic direction to drive performance in line with market trends. We believe that our role is to help the board provide insight, foresight and oversight.
Our experienced team will help you with:
Alignment between the board and it’s committees to a long range strategic plan, including evaluation of board composition, strategic oversight, risk management, governance processes, reporting protocols and director contributions. A more granular approach looking at specific areas of assessment with the creation of a set of frameworks to bridge gaps between boardroom decision making and business execution
A reflective approach to the optimisation of existing board committees and the creation of new ones, providing a distilled action plan to move forward in unity
Board Effectiveness Review: Living with the outcomes
Frustrations voiced by numerous businesses regarding Board Effectiveness Reviews echo our understanding. These frustrations often revolve around the recurrence of the same governance gaps within boardrooms, persisting year after year, regardless of the independent evaluators’ involvement. Regrettably, the outcomes remain consistent, with governance gaps persisting. Despite the conventional 90-day duration of a typical Board review, the crucial question remains: What proactive steps will be taken on the day following this assessment period? What will you do on day 91?
Board Effectiveness Review: Weed Out Board Complacency And Gain Fresh Perspective
A Board Effectiveness Review is an assessment process that seeks to evaluate the performance and effectiveness of a company’s Board of Directors. The review’s ultimate goal is to ensure that the board is functioning optimally and is aligned with the organisation’s strategic goals.
As a Non-Executive Director (NED), it is important to have a good understanding of the business in which you sit on the board, as well as how the company goes to market. This knowledge can be crucial in providing valuable insight and guidance to the board and management team, and can help to ensure that the company is well-positioned for success. However, the question arises whether we should expect NEDs to have this level of understanding and if so, how it should be assessed, how business can support this and what benefits it will bring.
Everyone is busy and being busy is probably what made you successful in the first place. All your achievements and milestones, whether personal or organisational, came from hard work and commitment. There are probably a lot of people like you in your organisation – driven, focused and resourceful. As a business leader, you need people to deliver, but also to stay motivated and continue to develop. This is one of the tricks a leader has to learn.
There is a risk, though, that too much focus means that the opportunities and the threats which may often be obvious, get missed. This is why many organisations are looking at their corporate governance framework to judge whether it’s delivering for their people, providing both a safety net for when things go wrong, and a lean and agile network to support a fast, proactive approach to decision-making. It should also enable people to ask the questions that many are often too afraid to voice for fear of looking stupid or think someone else would have thought of already. This is how things get missed.