As the pace of business continues to increase, board management effectiveness is ever more crucial. Boards must be able sort out the “known unknowns” from the strategic imperatives that create long-term value and guide companies towards their objectives.

To do this, they must have access to data which allows them to detect and address emerging threats quickly and effectively. They must also be able http://yourboardroom.net/can-board-meetings-be-held-virtually to develop a culture that encourages constructive dissension and engage in open discussions that can challenge the views of the majority. To be able to do this, they must have the ability to develop their professional skepticism that is practical and develop the courage to raise red flags – in the boardroom as well as with company leaders.

Boards must also have procedures in place to find new talent, hire these candidates and then integrate them into the team. The board is a living organism and as directors leave, they must be replaced with those who have the right mix of experience, capabilities and abilities to meet the company’s changing requirements.

It is essential to have a process that ensures the decisions taken in the boardroom reflect in the decisions taken by committees. This is often where boards are unable to function due to lack of clarity and an incongruous approach. An effective evaluation process can highlight these issues and provide constructive feedback to directors without focusing on anyone for criticism. This can help the board to proactively address the leadership gap and ensure that it has the capability to reach its strategic goals.