The effectiveness of the board’s management component of the assessment process for board members focuses primarily on the board processes for managing its agenda, meetings and the distribution of a written reports. It is crucial to ensure that every item on the agenda has clear responsibilities, timelines, and measurable outcomes.

Another aspect to consider is the https://www.yourboardroom.net/can-board-meetings-be-held-virtually/ board’s ability to recognize and react quickly to business risks and challenges. Whatever the issue, whether it’s shareholder activism, or cybersecurity, boards must to be flexible and adaptable in their approach to these changing threats.

The ability of the board to motivate and support the CEO and senior management is essential in enabling them carry out their duties. A thorough assessment of the board’s performance could help in reestablishing the precise purpose and roles of the C-Suite and the board of directors to ensure that everyone is working together to achieve the same objectives.

Board members’ knowledge of the company extends beyond what they learn from the management. It also includes their own research into trends and economic headwinds as well as customer, supplier and other stakeholder behaviour. Board members are also able to visit the websites and interact with management in a casual and informal manner between meetings, to get direct information.

The board has an information management system that is well-constructed, understood and provides the necessary level of detail to make informed decisions. This could include a board report and notice matrix that clearly defines the issues that require board oversight (mission-critical) and matters that do not (management matters). A governance matrix that clarifies the board’s role in each of these areas would be useful.