Defining a Strong Performing Board...
Doug Marsh
Life Fellow IMNZ, Fellow IoDNZ (Rtd.), (Rtd) Board Chairman & Director, Founding President Business NZ, (Rtd) Consul to the Republic of South Korea & National Past President IMNZ Board...
There is a strong separation between Management and Governance! Investors, regulators and stakeholders are seeking greater board effectiveness and accountability and are increasingly interested in board evaluation processes, results and performance. Boards are also seeking to enhance their own effectiveness and to more clearly address stakeholder interest by enhancing their board evaluation processes, performance and disclosures.
Roadmap for Improved Board Performance looks something like this: -
- How many strategic opportunities for future company growth, viability & stakeholder smiles are you & your Board right now, wrestling to the canvas? More than five is good.
- How often do your Board Meetings regularly run overtime due to over-the-top noise creating, exhilaration, energy, excitement, thrill levels & sheer Buzz of reinventing the future boils over.
- Are your Board Colleagues so captivated by strategically “What’s doable, bankable†that discussion rises exponentially.
- Are you as Chair, motivated to changing the way your company operates, the way your people in charge think, work, train and lead. Is there a climate of respect, trust, candour, innovation, and balanced capabilities alignment with future strategic direction? How do you know?
- What standards of performance have you set for your Board in the past 30 days.
- Quantum of informally initiated multi-stakeholder discussions in the past 30 days that have warranted “great idea†Agenda inclusions. More than five...that’s good.
- Has an independent Board capability & gap assessment review been performed during the past year? Or, is there one scheduled during the next quarter?..... that’s good.
- Does Board time spent on risk management and Strategic Leadership Performance exceed 65-75% of Board time each meeting. .... that’s good.
- Validated by assessment, “Engaged collaborative†boards are supportive of management.
- Externally assessed, Performance leadership, culture, regulatory core governance conformance, exceeding stakeholders’ expectations orientation and “no surprises†mindset are acid measurement tests for actioning change.
I’m Doug Marsh. JP, Life Fellow NZIM, (Rtd) Fellow Inst. Directors, Wellington based Professional Chairman & Director, Inaugural President Business NZ and Hon.Consul.
I have built my career making complex business concepts, simple and actionable. My driving passion is advising Board’s and their Directors that want to excel. If you feel that I can fast-track your success.
Let’sChat; email @: -marshgovernance@gmail.com
"As For Me; I Will Serve My GOD..." ????
5 å¹´Are you as Chair, motivated to changing the way your company operates, the way your people in charge think, work, train and lead. Is there a climate of respect, trust, candour, innovation, and balanced capabilities alignment with future strategic direction? How do you know?
Facilitator
5 å¹´Great article and really topical conversation right now thanks Doug Marsh. One other matter that has come up in discussions recently is the blurring of the lines between boards and councils and their CEO's. Boards are wanting greater say in operational matters. I suspect that CEO's would feel compromised in negotiating this because then accountability and responsibility becomes a shared criteria. Maybe it's time we encourage a forum on this?