Boards of directors provide the leadership and accountability that determine the success of an organisation.
How to improve the performance of boards of directors? Their effectiveness is crucial – and yet many boards lack effective processes. The application of good governance can radically improve performance.
Brefi Group can help chairmen and chief executives improve the performance of boards of directors.
Question one: Is the board a balanced team? How do you select directors? Are all the roles covered? What do you look for in a non-executive director?
Question two: How effective are individual directors? Do they understand their roles and responsibilities? How do you induct new directors? What arrangements do you have for continuing development of directors? Do directors have access to confidential external coaching?
Question three: Do you have regular (at least annual) corporate retreats when the whole board can get away together and review performance and strategy?
Question four: Does the board practise the proven processes recommended by the Institute of Directors?
The UK Corporate Governance Code, the Higgs Report and the Institute of Directors publication Standards for the Board provide benchmark standards for both the operation of boards and the behaviour of individual directors. They are an excellent basis for director coaching or mentoring and are used in our board performance evaluation and director appraisals.
Check out your behaviours against this checklist: -
We define and review the role and responsibilities of each individual director and how these contribute to the effectiveness of the board.
Board members are effectively briefed in time to prepare for meetings.
We regularly review the quality of the board's decisions, advice and its actions.
The company's organisation structure and capability is appropriate for implementing its chosen strategies.
Company objectives are consistent with the mission, values and needs of stakeholders, and form the basis of company strategy.
The vision and mission are championed by the entire board throughout the organisation.
The vision and mission are monitored and reviewed regularly.
Company objectives are Specific, Measurable, Achievable, Realistic and Time-bound.
The board regularly reviews the company's Strengths, Weaknesses, Opportunities and Threats.
The organisation's culture encourages continuous change and questioning of convention.
The board clearly delegates authority to management and regularly reviews management's effectiveness.
All staff, including me, receive a personal development review at least annually.
If you would like to discuss how Brefi Group can help you or your board become more effective, contact us or give us a call on +44 (0) 121 288 3417.
Brefi Group helps directors and board become more effective by clarifying goals, improving communication and applying good corporate governance.
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