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Board management is the procedure for overseeing the board members’ work. It encompasses a broad range of tasks, from arranging meetings and sharing information to setting clear roles and responsibilities. While the term «board» is usually associated with high-level directors however, the concept of boards can be applied to any group that works to make decisions within an organization. The success of an organisation is directly impacted by the direction of these task groups or «boards.’
When you are managing your board, it’s crucial to remember that your members are all leaders in their own way. As chairperson, the job is to guide them down the right track and not control how they carry out their responsibilities. This will help you avoid the common mistakes made by boards.
Avoid the «groupthink» trap:
Groupthink is the tendency of members to be in sync with one another and reinforce the views they already share which can lead to poor decision-making. Bring diverse perspectives into the boardroom to avoid groupthink. This will allow you to see the risks and opportunities your company faces more clear.
Make sure that your board members have the correct information prior to each meeting:
This is especially important for directors who may not be aware of the specific industry in which their company operates. Board decks are distributed to directors 2 to 3 business days prior to the meeting so they can go over the materials and ask questions or provide feedback. Ted suggests that syncs of the board be conducted each quarter to collect feedback and align members between meetings. This can be accomplished by using a board portal such as iBabs, which allows collaboration between meetings and lets directors track engagement and follow-up on action items with ease.