Board management is the process of governing the board of directors or trustees to ensure that they are well-informed, engaged and working together for the benefit of the company. This includes implementing best practices, such as clear communication and effective management of board meetings.
The role of a board is to set the direction for your business alongside the general manager or CEO and regularly interact with them to ensure the company is on the right path to reach its goals. The best boards have a diverse mix of skills and experience that can help them make great decisions for your business.
Ideally, the board should be comprised of one chairperson, who is responsible for directing the meetings and representing the board at events as well as one or more vice chairs. This is a vital role, and the more experienced members are often chosen to fill this role. A great chairperson will make the board members feel valued and respected by fostering an atmosphere that encourages respectful discussion.
The most effective boards can achieve the highest levels of collaboration and teamwork. This is facilitated through transparent dialogue, openness and the use of digital tools that allow the board to work effectively even when they’re scattered across the world. For example the board portal that allows real-time document sharing and collaboration enables directors to remain connected and actively participate in decision-making even when they have other obligations.