How Corporate Boards Can Improve Their Effectiveness Leave a comment

Board service is a great method to broaden your perspective and develop your ability to examine an organization in its entirety, rather than only the functional areas that you have managed. It also allows you to be exposed to a wider range of issues and challenges that businesses confront. You may have to make difficult decisions that could affect people negatively, like making a decision on redundancies or shutting down an office. These situations teach you how to think clearly and https://theseboard.com/ not be swayed either by your own feelings or those of your colleagues.

Another issue that arises is how to ensure that a wide variety of voices are heard in the decision-making process and deliberations. Boards employ a variety methods to accomplish this. For instance some boards require directors to play devil’s advocate at meetings. Other boards employ a whiteboard approach to brainstorm and ‘spitball’ possible solutions before making an important decision. This removes the decision-making process from individual personalities and can help avoid groupthink.

Boards can boost their effectiveness if they are willing to question long-standing practices. For example, a number of board members are reviewing their committee structures. They are asking themselves if they serve their purpose and are the most efficient way to run the meeting. They are searching for new methods to detect trends and insights hidden in digital and data tools.