Board Of Directors Decision Making Process
The Board of Directors plays a pivotal role in any company, making key decisions regarding its strategic direction, policies and overall performance. This decision-making process is intricate, requiring thorough discussion, careful deliberation and, most importantly, effective communication. It encompasses different stages starting with the identification of a decision that needs to be made, investigating potential solutions, evaluating these options, concluding the best course of action, and subsequent implementation.
Usually, decisions are made during scheduled board meetings or specially convened meetings where there is a particular issue at hand. The Chair initiates and facilitates these discussions, soliciting inputs from all board members to ensure diverse viewpoints are considered. For a decision to be ratified, it typically requires a majority vote. However, the specifics of this process can vary depending on the specific organisational constitution and bylaws. It is essential that the Board’s decision-making process remains transparent, to build trust with shareholders, staff and the wider public.
In our thought provoking Board Evaluation paper, you’ll discover:
✓ Why a Board evaluation is critical to the performance of an organisation.
✓ What are the core elements that make up the scope of an effective Board evaluation.
✓ A powerful approach that will build commitment to drive action within your organisation.
We help your Board get under the skin of what steps they need to take to provide maximum value to the business.
Our approach builds commitment and ownership, is relevant to the needs of your organisation and is inclusive, giving a voice to all Board members and key stakeholders.
The Mightywaters Team
The Mightywaters Team has considerable experience in working with Boards. They developed the GIFT® framework through understanding the areas that drive Board effectiveness. They work across sectors and different governance codes, and often with organisations with unusual or complex shareholding / stakeholder arrangements.
Anna Withers
Founder and Director
Anna focuses on the psychology and neuroscience of work, providing specialist expertise in one-to-one coaching, counselling and conflict resolution, and in the use and interpretation of psychometric tools. She has a particular interest in decision making and in helping individuals and teams make better decisions.
Mark Withers
Founder and Director
Mark brings nearly four decades of business experience and works at the most senior organisational levels, helping leaders tackle their tough people and organisational challenges. He is also a highly skilled facilitator who is able to create environments that enable groups and teams of all sizes to collaborate, innovate, create and decide more effectively.
Does your Board have untapped potential?
Withers, A. (2019). Does your Board have untapped potential?. Ethical Boardroom, Autumn Issue.
A board effectiveness evaluation that gets under the skin of what’s working well and what’s getting in the way of peak performance is the perfect vehicle to help boards unlock this potential. But what does an effective board evaluation look like? Read Anna’s article published in Ethical Boardroom and find out why and how to conduct a board evaluation and the conditions for success.
