Top Board Management Principles

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Board management is the process of overseeing the activities of board members. It includes a variety of tasks ranging from arranging meetings, sharing information, and establishing clear roles and responsibilities. While the word “board” is often used to refer to directors of high level however, the concept of boards can be applied to any group that works together to make decisions within an company. Managing these task groups, or “boards,” effectively directly impacts the success of an organisation.

When you are managing your board, it’s important to remember that your members are all leaders in their own way. As chairperson, the job is to direct them on the right track, not control how they carry out their duties. This can help you avoid the most common mistakes made by boards.

Avoid the “groupthink” trap:

Groupthink is a tendency that causes members to align themselves with others and reinforce viewpoints they already agree on which can result in poor decision-making. Invite different perspectives to the boardroom to avoid groupthink. This allows you to see more clearly the risks and opportunities your business is facing.

Ensure that your board members are given the right information prior to every meeting:

This is particularly important for directors who might not be aware of the specific industry of their company. To prevent them from being amazed by the information discussed in a meeting it is recommended to send decks of the board 2 to 3 days prior to the meeting, so they can go through and add comments or ask questions. Ted also recommends having board syncs each quarter to collect input and coordinate board members during meetings. This can be accomplished by via a portal for board members, like iBabs. It facilitates collaboration between meeting and allows directors to track engagement and follow up on action items quickly.

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