The board room evaluation is a key element of the overall board assessment process. It helps the board comprehend its strengths and weaknesses, and ensures that it’s in line with its objectives and goals. A regular review of the board can ensure that no company misses out on opportunities and risk. It’s also a great way to boost the effectiveness and performance of the board. A board review can be conducted in various ways. It can be an internal evaluation that is conducted regularly with a board survey, such as the low-cost benchmarked surveys provided by Board Surveys, or it can be a distinct, independent external assessment.
The board could also use this time to formulate and discuss plans for improvement. This is the reason it’s essential to have a facilitator who can facilitate the discussion without bias. A facilitator who is experienced with the challenges faced by high-performing boards can be beneficial.
A boardroom review may also reveal issues with top-level management’s working culture and work practices. This is the area that can be especially difficult to make changes. In today’s business world the image of the insular and unwelcome director is no longer a reality.
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