The evaluation of the board room is a crucial part of the overall board assessment process. It assists the board in understanding its strengths and weaknesses, and ensures that it is on track with its goals and objectives. Regularly reviewing the board is essential for every organisation to ensure that it’s not overlooking opportunities or risks. It’s also a great method to improve the efficiency and performance of the board. A board review can be conducted in many ways. It could be a regular internal review using a properly developed board survey such as the affordable world class benchmarked survey from Board Surveys or a more distinctive independent external assessment.
The board can also utilize this time to develop and review action plans for improvement. It is essential to about his have a facilitator who can steer the discussion without any bias. It’s always beneficial to have someone familiar with the challenges faced by highly-performing boards.
Another issue that can arise during the boardroom review is identifying and addressing culture and working practice issues within the top level management. This is an area where it can be challenging to implement change. For instance, the old stereotype of the forbidding and remote director is becoming outdated in the contemporary business world.