Unique Lab November 26, 2024Boards that want to improve performance will require a comprehensive strategy. This includes ensuring that the board has the appropriate combination of skills, creating an environment that is positive by streamlining processes and executing regular reviews. By addressing these areas, boards can promote best practices and accelerate the process of making decisions.
The Chair of the board plays a crucial role in determining how well the board performs. A chair who is not able to lead or coordination skills is unlikely to be able to create an environment where directors can provide their own unique perspectives, and engage in productive discussions. A chair who is unsure and overly controlling can create an environment where the board is not transparent and discussions are restricted.
One of the most common problems a board will face is dysfunction. While this problem can stem from personal conflicts among board members, it could be caused by inadequate structures to carry the board’s performance assessment responsibility. Delegating these responsibilities to the board as a whole, or confining them to the executive committee often leads to a lack of oversight.
Another important thing to consider is the performance of the board in terms of its ability to access and process information. Being able to access relevant information can greatly enhance board effectiveness and enable boards to make more informed decisions. Many boards lack effective methods for sourcing data and sharing it. It is difficult to improve a board’s performance unless this problem is addressed.