A strong board management strategy drives value across the board, allowing companies to thrive in times of change, complexity, and crises. Effective governance is supported by a strong mission and clear engagement models and effective information practices. We define this as:

Leadership

To ensure effective governance, boards need to choose the best board leaders who conduct meetings efficiently and facilitate constructive discussion and invest in training, development and feedback. These leaders must also keep confidence among their fellow directors, CEOs, and resolve conflicts when they arise.

The chairperson of the board is a crucial mediator because they determine the tone of meetings and lead the https://boardroomevent.com/finding-the-balance-between-board-and-management/ resolution process if needed. They should be prepared to discuss difficult issues when the opportunity arises. This is because these discussions will require more thorough examination than discussions that involve less difficult topics.

Tenure and term limits

The limit on the term of chairmanships on the board must be consistent with company bylaws. It must be reviewed regularly to ensure that there is an inclusive board with diverse qualifications and backgrounds. Many bylaws specify a term of two or three years, but others don’t have any limit.

Retention of key talents and expertise

The best boards retain key board members who offer valuable expertise, skills, and connections to important stakeholders. They are open to new perspectives and draw upon external expertise when necessary. They also can adapt quickly to changing priorities and changing conditions.