The Board Room Review
The board room evaluation is a key element of the overall assessment process. It assists the board in understanding its strengths, weaknesses and ensures that it’s in line with its objectives and goals. A regular review of the board can aid every business in avoiding missing out on opportunities and risk. It’s also a fantastic instrument to increase the effectiveness and performance of the board. A board review can be conducted in many ways. It could be an ongoing internal review using a well constructed board survey, such as the low-cost benchmarked surveys of Board Surveys or a more distinctive independent external assessment.
It could be a good opportunity for the board to discuss and develop action plans for improvement. This is the reason it’s essential to have a facilitator that can facilitate the discussion without prejudice. It’s always beneficial to have someone familiar with the challenges faced by highly-performing boards.
Another issue that can arise during the boardroom review is identifying and addressing culture and working practices issues within the top management. It can be challenging to make changes in this context. For instance, the traditional stereotype of the unruly and remote director is becoming outdated in the contemporary business world.
