Solving Board Performance Problems

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To create a highly-performing, value-enhancing board requires the resolution of many issues. This includes having the right people on the board, fostering a positive board culture, distributing information easily while streamlining processes and executing regular evaluations. It is not an easy task and there are often problems. Some of these problems are easily addressed, while others are more difficult. The good news is that most of these issues are solvable.

The most frequent issue is when boards fail to create the internal structures and processes they require to fulfill its duties of assessing. This typically involves establishing officers and committees responsible to gather, analyze and regularly present data on performance to the Board.

If this is not done, the board may not be able identify its strengths and weaknesses. This could prevent the board from taking action to address areas of improvement.

A board that fails to follow through with its agreed-upon improvement plans is a different issue. This can happen if the board is distracted by other issues and loses focus on what was determined during its previous review.

One of the best solutions to this problem is for boards to conduct an exhaustive self-evaluation at least once per year. BoardEffect includes a built-in questionnaire that can help ensure accuracy. It can be used to conduct an extensive assessment of the board if necessary. By following this procedure boards can ensure that they are constantly focused on the most pressing issues and that their efforts contribute to the firm’s success.