A boardroom review is an exercise that aids businesses in identifying areas of strength and weaknesses within their management relations, culture, and even relationships and can result in practical alterations. It is also a method to identify the company’s areas of expertise. The evaluation can be conducted in a number of ways by hiring an independent facilitator who will guarantee confidentiality and offer an impartial view of the findings. This method could also save businesses money by cutting out travel expenses.
The board of directors of a business is accountable for making important decisions that affect everyone from the employees of a company to investors who purchase shares. Therefore, it is essential that the board has a good combination of skills. It is not always easy to determine the effectiveness of an organization or its members. A review of the boardroom can help to correct this issue and improve the performance of the board.
Boardroom reviews can vary depending on the client, but generally will involve a development session for the board members to learn about best practices in governance, followed by facilitation and an action plan. The goal is usually to improve the effectiveness and efficiency of the board. It could also include the resolution of misalignment or conflict issues, smoothing out a transition or revitalizing the board.
A board management system is a great tool to increase the effectiveness of your board, and also make it more productive. Look for a program with features like meeting scheduling recording and recording meetings as well as decisions that are syndicated to all members of the board, and granular control over access.