The effectiveness of a company’s board of directors is critical for ensuring that the company has a sound and long-term business strategy that is executed within an environment of prudent risk management.
A periodic board evaluation has become part of the accepted governance landscape as a way to improve board effectiveness.
However, in our experience, board evaluations can be overly past-oriented. They may also exacerbate already fractious and poorly performing boards. And in many cases, they leave the board members unclear on what changes, whether big or small, are needed to make to the way the board works in relevant areas in order to be more meaningful.
Our board progression tool is future-oriented and practical. It utilizes a progression matrix which has been developed by experienced board members, drawing from their experience of boards across the world.
We believe that, when presented with a picture of what the “targets” ought to be and what behavioral elements and practices they are composed of, it is easier for a board to determine what it wants to do and how to get there. The matrix is a tool describing what corporate governance targets boards can set for themselves.
Our methodology is aimed at creating buy-in from all board members on the ways in which the board can progress and improve in areas that are important, and that can have a positive impact on a company's performance and competitive position.
Latest tweets
