How boards of directors unleash their full potential to face current challenges
The purpose of this white paper is to identify the current challenges boards of directors face and provide guidance on how to address efficiency issues.
The work of the board of directors has become much more complex in the last few years. Directors are spending more time on their board related activities than ever before and this trend is very much likely to continue in the coming years.
The demand to stay on top of disruptive technologies, broader macro trends (e.g. trade conflicts, Brexit, regulations), and rising expectations for boards to cover broader topics means that the board has to step up its game. Boards have to play a more active role in overseeing business strategy and risk management against the background of these megatrends.
Hence, it is crucial that directors increase their efficiency and that every seat in the boardroom is filled by a high performer. The purpose of this white paper is to identify the current challenges boards of directors face and provide guidance on how to address efficiency issues.
Increasing efficiency in the boardroom
Here is a selection of helpful advice identified in this paper:
- directors should engage more with broader management
- implement better and more frequent performance evaluation and act on it
- and adopt board meeting management tools for increased effectiveness.