In order to create a board that is high-performing and adds value it is important to address a variety of issues. This includes having the right people on the board as well as fostering a positive culture, providing accessible information as well as streamlining processes and conducting regular evaluations. It isn’t an easy task to do, and issues frequently arise. Some of these problems are easily addressed, while others are more elusive. The good news is, the majority of these issues can be resolved.
A common issue is when a board fails to create the internal structures and processes they require to fulfill its assessment responsibilities. This typically involves establishing officers and committees who are responsible to gather, analyze and regularly present performance data to the Board.
When this is not done, it may cause the board to fail to understand its strengths and weaknesses. It may also prevent the board from taking necessary actions to address areas for improvement.
Another issue is when a board fails to follow through on its agreed-upon improvement plans. This is often the case when a board becomes distracted by other things and loses focus on issues that were uncovered during its last assessment.
One of the best solutions to this problem is for boards to conduct an in-depth self-evaluation every year. BoardEffect’s built in survey helps ensure fidelity and can be used as a basis for a full board evaluation, if needed. This process helps boards ensure that they are focused on the most important issues, and that their collective efforts are a key factor in the success of the company.
