Board management is the process of overseeing the work of board members. It involves a range of activities, ranging from organizing meetings to sharing information and establishing clear roles and responsibility. While the word “board” is often associated with high-level directors, the concept of boards can be applied to any group that works to make decisions within an organization. The performance of an organization is directly affected by the leadership of these task groups, or “boards..’
One of the most important points to remember when managing your board is that your board members are leaders in their own right. As chairperson, your role is to guide them on the right path, not oversee how they perform their responsibilities. Keeping this in mind can help you avoid common mistakes that most boards make.
Beware of the “groupthink trap”:
Groupthink is a tendency that causes members to align themselves with each other and reinforce views they already share which can lead to bad decision-making. Invite different perspectives to the boardroom to avoid groupthink. This will help you discern the risks and opportunities your business faces more clear.
Make sure that your board members have the right information before each meeting:
This is particularly crucial for directors who may not be knowledgeable about the company’s specific industry. Directors should be sent board decks between 2 and 3 business days prior to a meeting https://www.contactboardroom.com/boardmaps-and-boardpaq-board-platforms-key-characteristics/ so that they can review the materials and ask questions or provide feedback. Ted recommends that board syncs be conducted every quarter to collect input and coordinate members between meetings. This can be done by through a board portal like iBabs, which facilitates collaboration between meetings and allows directors to track engagement and follow-up on action items quickly.