Board management is the process of directing the activities of board members. It encompasses a variety of activities, from scheduling meetings and sharing information, to establishing clear roles and duties. The term “board” could be associated with executives at the top, but the concept can be applied to any group of people who work together to make decisions within an organisation. managing these task groups, or boards, effectively directly impacts the success of an organisation.
One of the most important things to be aware of when managing your board is that your board members are leaders in their own right. As chairperson, the job is to guide them on the right track and not oversee how they perform their responsibilities. Keeping this in mind can help you avoid common mistakes that most boards make.
Beware of the “groupthink trap”:
Groupthink is a tendency of members to join with other people 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 help you to understand the risks and opportunities your company faces more precisely.
Make sure that your board members are well-informed prior to every meeting:
This is especially important for directors who might not be aware of the specific industry of the company. To prevent them from being amazed by the information discussed at a meeting, send board decks at least 2 days prior to the meeting so that they can review and add comments or questions. Ted also recommends scheduling board syncs every quarter to gather input and ensure alignment of board members between meetings. This can be done using a board portal such as iBabs, which facilitates collaboration between meetings and allows directors to monitor engagement and follow-up on actions with ease.