A board is a group composed of individuals who supervise and guides an organization to ensure it operates lawfully and in the best interests of shareholders and stakeholders. It does so independently of company management and day-to-day operations. The role of a board is vital in a world that continues to change and become more volatile due to new threats.
A great board is comprised of a wide range of skills leadership styles, experiences, and leadership styles. This includes diversity of thought, as well as the ability to think out of the box and examine the situation from different angles. The composition of the board should be carefully thought out and planned with consideration of the demands of leadership in the future.
Boards also have to be agile and flexible enough to respond to rapidly changing situations, which could require them to reconsider their structure and committees. The rapid growth of cyber-related threats, for example has forced boards to seek out new expertise in the area. In addition the volatility of the world has prompted boards to look for directors who have the experience of managing difficult times.
A successful board should be able to recruit and keep members with different backgrounds, perspectives, and skills that can assist the board achieve its goals. This is why it's important for boards to utilize an effective board matrix that assists to find people with the right mix of hard and soft abilities. This can be combined with a portal for boards such as iBabs which can help new directors get up to speed quickly by providing them with more opportunities to collaborate and interaction with their peers.