Trusted advice and guidance can be one of the most valuable assets for the leader of any company, organization or community. Structuring a framework and process for gathering, assimilating and applying that guidance usually takes the form of a board of advisors, directors or trustees. However, haphazardly assembled or ambiguous board structure and governance will lead to ineffectiveness or disaster. Board structure, responsibilities, authority and fiduciary/legal obligations will vary based on the nature of the board and the entity that they serve. Thoughtful, deliberate design and execution of board structure and governance is critical to the ultimate success of any organization. Roles must be well defined; proper committee structures must be in place; separation of power between board and staff must be clear; terms or service, succession and recruitment policies must be set and followed. These and many other considerations go into creating effective governance that enhances the value of an organization, moves it toward its vision and effectively empowers leadership. Boards must also be learning organizations, changing themselves over time to respond to changing needs of the entity they serve; be that new members with specific relevant experience, new or temporary committees respond to specific strategic or time-sensitive needs. Any organization can and will benefit from a periodic thorough review, assessment and alignment of its board governance process.
Tags: governance, leadership
