The board room review is vital to the overall board evaluation process. It assists the board in understanding its strengths, weaknesses and ensures that it’s on the right track with its goals and objectives. Conducting a regular review of the board is essential for all organizations to ensure that it’s not overlooking opportunities or risks. It’s also an excellent way to increase the effectiveness and performance of the board. A board review can be conducted in many ways. It can be an internal evaluation that is conducted periodically using a board survey, such as the world-class, affordable benchmarked surveys provided by Board Surveys, or it can be a unique independent external evaluation.
The board can also utilize the time to come up with and review action plans for improvement. This is the reason it’s essential to have a facilitator to facilitate the discussion without prejudice. It’s usually helpful to have someone familiar with the issues faced by top-performing boards.
Another issue that can arise during the boardroom review is identifying and addressing cultural and work practices issues within the top level management. It can be difficult to make changes in this situation. For example, the old image of the stifling and remote director is becoming obsolete in the modern about his business world.