JPA Executive Services – Board Governance Board Governance Course 1.0
Leading Board Practices and Related Challenges
—————–(proposed as a half to full day program)—————–
Do we need a board?
- What can a board do for the company?
- Benefits of a board
- Board’s role
- Executive compensation
- Monitoring risk
- Risk portfolio
- High-level risks
- Periodically deep dives
- Periodic brainstorming on emerging risks and disruptors
How to create a board?
- What are the qualities and skills needed?
- Size of the board
- Goldilocks principle – not too big, not too small
- Manage director expectations – set the tone early on
- What do directors expect from the company? How does this differ from the next generation of directors?
Frequency of meetings
- The number of meetings will depend on the size of the company and its complexity. Many companies have a standard meeting schedule. Additional meetings (for example, to address a particular issue, or in a time of crisis) can be set episodically.
- Approach the meeting calendar with discipline
What are leading board practices
and how can they be derailed?
- Agendas and minutes
- Committees – do you need them?
- Who should be on which committee?
- Chairman dynamics
- Someone who can effectively manage the agenda and the meeting
- Well respected by the other directors
- Actively engaged with CEO and directors between meetings
- Very important
- Formal and informal
- Periodic review of the skills needed on the board for current and future strategies
- Drive a culture that when an objective is achieved for which a particular person is on the board, that director will be expected to move on.
- Manage expectations