Board Self-Assessment offers a means for analyzing and discussing the strengths and weaknesses of governance. It’s a way for the board to step back and evaluate its own effectiveness, which in turn can lead to improvements in governance.
A successful board assessment process requires planning time, as well as involvement of board members. The sites novalauncherprime.pro/corporate-communications-policy-importance/ first step in determining the scope is to determine who will be the target audience for the evaluation. This could include the entire board, specific committees and/or individual directors. A good plan should also define the method of evaluation. Common methods include surveys, interviews, or facilitation of discussions. Once the extent of the evaluation and the methodology have been determined the next step is to create and distribute questionnaires.
Some boards choose to conduct the test internally while others employ an outside consultant. A third party consultant will to ensure a thorough and impartial analysis, which is essential if you do not have the time or resources to conduct the assessment on your own.
It is important that board members review themselves. However it is equally crucial that nonprofit boards focus on the entire group. It is easy for nonprofit boards and their evaluation facilitators to become absorbed in assessing the individual’s responses and neglect examining the board in its entirety.
A successful self-assessment can help boards understand their expectations, identify weaknesses in the composition of their boards and align board knowledge with organizational strategy, address concerns of investors about turnover and diversity, and increase board procedures and practices. A growing number of public companies are publishing the results of their evaluations of their boards in their proxy statements.