Board Management is a set of best practices that allow an organization to achieve its goals. This includes deciding and supervising the CEO, creating a strategic plan and establishing guidelines for the board. It also requires establishing an organization for governance that includes committees that regularly meet and report to the entire board. The role of the chair is vital. It is crucial to select someone who can bring members together, facilitate productive meetings, and ensure that follow-up is done.
The board must be able discuss and decide on the company’s strategic direction and this can only happen if all members are involved. This is achieved by holding regular meetings, and ensuring that all members are aware of their roles and responsibilities and how they fit in the overall board’s function.
This is accomplished by ensuring everyone is on the exact same page when it is time to share documents and other information. This is why it is crucial to utilize a board portal that can be customised and securely share documents only with the people that need access to them, whilst protecting data. It is essential that board members have the ability to access the most current information. A digital platform makes it easy to accomplish this, and it reduces the requirement to print documents.