What is Board Management?
Board management is the process of governing the board of directors or trustees to ensure that they are all well-informed, engaged and working effectively for the good of an organisation. This involves applying best practices like clear communication and effective management of board meetings and a structured decision-making framework.
The function of a board is to set the direction for your company in conjunction with the CEO or general manager and then regularly interact with them to ensure that the company is on the right course to meet its objectives. The best boards consist of a range of people with different expertise and backgrounds that can assist in making good decisions for your company.
Ideally, the board will comprise a chairperson who is responsible for running the meetings and for representing the board at events and one or more vice chairs. This is a crucial role, and the more experienced members are typically chosen to fill this position. A good chairperson can also provide a positive experience for board members by creating an environment of respectful dialog where opinions of different people are respected and taken into consideration.
The most effective boards can achieve the highest levels of collaboration and teamwork. This is facilitated through open communication, transparency and the use of digital tools that allow the board members to effectively engage even when they are spread across the world. For instance the board portal that allows real-time collaboration and sharing of documents allows directors to remain connected and take part in the decision-making process even when they have other obligations.
