The sixth of a board’s five tasks is to monitor, critique and improve its very own effectiveness. Whilst this may be the most challenging belonging to the five, it can be one of the most important. Boards that regularly self-evaluate make a great statement that they consider their responsibility seriously. Outsiders, including score agencies and attorneys standard, perspective a board’s commitment to regularly doing an objective self-evaluation as a key factor in good governance.
Mother board self-assessments are a essential tool in helping boards develop, hone and implement techniques that lead to healthful, vibrant and effective governance. They will serve a vital role in making sure directors will be fulfilling the 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 members. It helps panels understand their strengths and weaknesses, and just how those effects the board’s ability to provide the organization. It also allows planks to address a range of governance challenges such as building a different board, strengthening the board-management team relationship, handling sustainability concerns and boosting oversight.
The Center has been offering a simple, straightforward and inexpensive board self-assessment tool to nonprofit boards and their users since 2009. We send the questionnaire in electronic format, track participation, tabulate results and deliver them to you in an easy-to-use format. MANP and Jeff Wahlstrom, of Starboard Command Consulting, collaborated to design the assessment, that can be used by a huge selection of nonprofit boards and thousands of panel Corporate Communications users.