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What is Board Management?
Board management is the process of managing the board of directors or trustees to ensure that they are fully informed, active and working well to benefit the company. This means implementing the most effective practices such as clear communication and efficient management of board meetings.
The role of a board is to determine the direction of your business, in conjunction with the general manager or CEO. They will also interact with them regularly to ensure that the company is on the right path to reach its goals. The most effective boards are composed of a variety of skills and experience that can help them make great decisions for your business.
The ideal board would consist of a chairperson, who will conduct the meetings and serve as the board’s representative at events as well as vice chairpersons or vice chairs. This is a vital post and usually the most experienced members who are selected for it. A good chairperson will also make sure that board members feel valued and respected by creating an environment that encourages respectful discussion.
The most effective boards reach the highest levels of collaboration and teamwork. This is facilitated through open communication, transparency and the use of digital tools that allow the board to engage effectively even when they’re spread across the globe. For example an online portal for board members which allows real-time document sharing and collaboration allows directors to stay connected and take part in making decisions even if they have other obligations.