The evaluation of the board room is a key element of the overall assessment process. It helps the board understand its strengths, weaknesses primary data and ensures that it’s in line with its objectives and objectives. A regular board review will ensure that no company misses out on opportunities and risk. It’s also a great tool to improve the performance and effectiveness of the board. A board review can be conducted in a variety of ways. It could be an annual internal evaluation using a well constructed board survey, such as the world-class, affordable benchmarked survey from Board Surveys or a more distinctive independent external assessment.
The board can also take advantage of this time to create and discuss improvement plans. This is why it’s vital to have a facilitator who can guide the discussion without bias. It’s always beneficial to have someone who is knowledgeable about the issues faced by top-performing boards.
A boardroom review can also uncover issues with top management’s organizational culture and working methods. This is an area where it can be challenging to implement change. In the contemporary business world the image of the insular and unwelcome director is no longer relevant.