Board management is the process of overseeing the activities of board members. It involves a range of tasks ranging from arranging meetings to sharing information and developing clear roles and responsibility. The term “board” can be associated with top executives, however the concept can be applied to any group of people who work together to make decisions in an organisation. The performance of an organization is directly affected by the management of these task groups, or ‘boards.’
One of the most important aspects to keep in mind when managing your board is that your members are leaders in their own right. As chairperson, your task is to guide them on the right path and not impose your will on how they accomplish their responsibilities. This will help you avoid the most common mistakes made by boards.
Avoid the “groupthink” trap:
Groupthink is a tendency that causes members to join with one another and to reinforce opinions they already share, which can result in poor decision-making. Invite diverse perspectives to the boardroom to avoid groupthink. This will help you see the opportunities and risks your business faces more clear.
Make sure your board members are informed prior to each meeting:
This is important, especially for directors who may not be familiar with the industry of the company. To ensure that they are not amazed by the information discussed at a meeting send decks to the board 2 to 3 days before the meeting so that they can go through and add comments or ask questions. Ted also suggests scheduling board syncs every quarter to collect input and align the board members’ schedules between meetings. This can be accomplished by using a board portal, like iBabs, which facilitates collaboration between meeting and lets directors monitor engagement and follow-up on actions items easily.
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