The Board of Directors are expected to provide direction and oversight over a wide range of business issues. To accomplish this they must be engaged in productive tasks. This includes making decisions and completing committee work and effectively managing meetings. It also involves evaluating existing methods and introducing new ones that improve efficiency, productivity and effectiveness of the board.
Meeting Attendance
Regular attendance at meetings is a key indication of a board’s dedication to good governance and, therefore, to the value-creating work the company relies on them to accomplish. It’s not enough. As shareholder activist Nell Minow points out, “the boards of some of our most loved companies have low or no attendance records. Many of the most famous names on these boards barely show up at all, and even when they do, they are usually unprepared.”
Induction programs that are tailored to the needs of new directors enable them to quickly become familiar with their organizations. Continuous education keeps board members aware of changes in law and business that could impact their duties. And a growing number of boards are establishing culture initiatives that encourage transparency, trust, and collaboration to enable effective decisions and help achieve strategic goals.
Some boards decide to delegate certain tasks to non-board members who have specific skills, contacts or knowledge. This allows a wider range of people to participate in the work of the board, and boardroomweb.info/perfect-format-of-agenda-of-board-meeting-how-it-looks-like/ provides busy professionals with an opportunity to support a cause they care about, and helps cultivate talent for board positions in the future.