Board management effectiveness is a crucial aspect of board governance. The effectiveness of a board is determined by many aspects that include its composition (the right mix of skills and experience) and the efficiency of meetings as well as the culture of open communication and the willingness to have real conversations, especially difficult ones. The more efficient a Board is and the more efficient it is to establish strategic direction and challenge organizational performance.
The annual self-assessment of the board could range from a simple questionnaire to an interview conducted by a third party. This can provide insight into the dynamics of the board and maturity levels. These assessments can help boards assess how they compare to the best practices and come up with plans of action to improve their performance in certain areas.
The most effective way to manage boards is to foster a cooperative culture in which directors see themselves as collaborators and not adversaries. This can be accomplished through board development training and through encouraging refreshment of the board, such as an openness to rethink the mandatory retirement schedules, or term limits.
One way to boost efficiency between meetings is to allow directors to share information and access it via dedicated communication tools such as discussion boards and remote votes. This can cut down on the need for lengthy face-to-face discussions and help ensure that each action item and task are completed according to schedule. As a result, board members are able to spend less time managing and more time driving forward with the process of change.