Board management is the process of governing the board of directors or trustees to ensure that they are well-informed, engaged and working effectively to improve the performance of an organisation. This involves applying best practices such as clear communication and effective management of board meetings and a standardized decision-making framework.
The role of a board is to determine the direction of your company, along with the general manager or CEO, and periodically interact with them to make sure the business is on the right track to achieve its objectives. The most effective boards consist of a variety of people with different backgrounds and skills which can assist in making the right decisions for your business.
The ideal board would be comprised of a chairperson, who is responsible for directing the meetings as well as representing the board at events, as well as one or more vice chairs. This is an extremely important post and usually those with more experience who are selected for it. A good chairperson can also provide a positive experience for board members by creating an environment of respectable discussions where differences of opinion are respected and taken into consideration.
The most efficient boards can achieve the highest levels of collaboration and teamwork. This is achieved through transparency, open dialogue and the use of digital tools that allow the board to work effectively even when they’re scattered across the world. For example, a board portal that allows for real-time document sharing and collaboration permits directors to remain connected and participate in making decisions even if they have other obligations.