Top Board Management Principles

Board management is the process of directing the work of board members. It involves a wide variety of tasks, from arranging meetings and sharing information, to establishing clear roles and the responsibilities. While the term “board” is usually used to refer to directors of high level, the concept of boards can be applied to any group that works together to make decisions within an company. The success of an organisation is directly affected by the direction of these task groups, or “boards.’

In managing your board, it’s crucial to keep in mind that your board members are all leaders in their own way. As chairperson, your job is to guide them along the right track, not oversee how they perform their duties. This can help you avoid the most common mistakes made by many boards.

Beware of the “groupthink” trap:

Groupthink is a tendency for members to join with each other and reinforce views they already share which can lead to poor decision-making. Bring diverse perspectives into the boardroom to avoid groupthink. This will help more you to see the opportunities and risks your company faces more clearly.

Make sure that your board members have the correct information prior to each meeting:

This is particularly crucial for directors who may not have a good understanding of the company’s specific industry. Directors should be given board decks 2 to 3 business days prior to an event so they can read the materials and ask questions or make comments. Ted also recommends conducting board syncs every quarter to collect input and coordinate board members between meetings. This can be done using boards portals like iBabs that facilitates collaboration between meetings and lets directors monitor engagement and follow-up on action items with ease.

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