The article provides examples from NASA (HST), Volkswagen and Wirecard to show how boards can miss early warning signs that lead to a hazard. The article stresses the importance of identifying early warning signs and then acting upon them. This can be done through an https://grbestpractices.org/driving-efficiency-with-virtual-data-rooms-the-advantages-of-digitalization-for-your-business/ effective review process for boards that helps them evaluate their effectiveness and performance.

The authors emphasize the importance of boards assessing their own performance as well as the performance of other organisations to identify areas for improvement. They also stress the importance of utilizing outside consultants' expertise to ensure the board agenda is comprehensive.

A board room review is a process that examines the effectiveness of the board of directors in relation to the ideal demands of the business. It could be an internal review using a top benchmarked tool such as the ones from Board Surveys, or a custom external evaluation that is tailored to the needs and requirements of the business.

It is essential that the boardroom be an environment where employees are able to freely and honestly. They should be able to concentrate on their task without being distracted or interrupted and should feel at ease when discussing sensitive issues. A conference space with large chairs and tables with trestle designs could be beneficial. It should also be an environment that is soundproofed to ensure that conversations are private. The latest technology, such as Bloomberg plug ins or the latest quotation systems will also aid. A virtual meeting room can also allow members to attend meetings from their workplaces, homes or even airplanes, helping to facilitate the process for them and their colleagues.