Making Corporate Boards More Effective
Corporate boards should function effectively given their role in making critical business decisions. This responsibility encompasses improving corporate governance, maintaining financial health, and ensuring sustainable company growth. Whilst not straightforward, several approaches can be undertaken to make these boards more effective.
Firstly, organisations must ensure the selection of competent and diverse board members. Diversity enhances decision-making quality through varied perspectives and experiences. Secondly, continuing education for board members is crucial; this aids them in staying updated with swiftly evolving corporate landscapes. Regular board evaluations can also identify areas of weakness and focus improvement efforts effectively.
One cannot underestimate the significance of an engaging board culture as well. Healthy dialogue, constructive questioning, and a culture of openness are beneficial in deliberations and decision-making processes. Finally, embracing digitalisation can streamline lengthy processes, improving effectiveness and efficiency. Furthermore, distinct roles and responsibilities should be set for every board member to drive accountability.
In conclusion, constantly improving the efficiency and effectiveness of corporate boards requires a multifaceted approach, centring on diversity, ongoing education, performance assessment and fostering an open culture.
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.
