The 6th of a board’s five tasks is to keep an eye on, critique and improve its own effectiveness. Although this may be the most challenging of this five, it truly is one of the most crucial. Boards that regularly self-evaluate make a great statement that they have their responsibility seriously. Outsiders, including score agencies and attorneys standard, viewpoint a board’s commitment to regularly conducting an objective self-evaluation as a main factor in good governance.
Mother board self-assessments are a essential tool in assisting boards develop, hone and implement tactics that lead to healthy and balanced, vibrant and effective governance. They will serve a huge role in making certain directors are fulfilling all their fiduciary responsibilities and operating in the company’s best interest.
A well-designed and conducted table self-assessment provides a road map to improved governance for all subscribers. It helps boards understand their strengths and weaknesses, and how those result the board’s ability to serve the organization. In addition, it allows boards to address a variety of governance challenges just like building a different board, strengthening the board-management crew relationship, handling sustainability problems and enhancing oversight.
The Center has been providing a simple, straightforward and inexpensive board self-assessment tool to nonprofit panels and their paid members since 2009. We send the questionnaire electronically, track involvement, tabulate results and deliver them to you in an straightforward format. MANP and Jeff Wahlstrom, of Starboard Leadership Consulting, worked with to design the assessment, which has been used by hundreds of nonprofit Corporate Governance boards and thousands of table members.