The board of directors is a critical component of any organization. As an executive assistant or administrative professional, one of your responsibilities may be to ensure the board is managed and supported efficiently and effectively.
In this article, we will discuss what a board of directors is, how they support an organization, and how to manage and support them. Let’s dive in!
A corporation's board of directors is a group of individuals elected by the shareholders of the corporation, who oversee the organization’s activities. Essentially, they ensure the organization is being run in the best interests of the shareholders.
They are responsible for making important decisions, setting quarterly and annual goals, and providing guidance and direction to the executive management team.
The board of directors plays a crucial role in the overall governance and success of a company. They are often filled with an array of professional expertise, diverse backgrounds, and varying levels of business experience.
Therefore, they are invaluable in shaping the strategic direction of the organization.
The board of directors can be defined as “a group of people, selected by the shareholders, who make the major decisions for the company.” The exact responsibilities and duties of a board of directors are outlined in each company’s individual articles of incorporation.
Due to the diverse skill sets, backgrounds, and agendas of its members, managing a board of directors can be challenging.
Additionally, navigating the complex power dynamic within a board can be tricky. It is likely that each member has a unique perspective on how the organization should be run. Therefore, keeping everyone on track with the shared mission, values, and goals of the organization can be difficult at times.
However, successfully managing a board of directors is possible. It requires effective communication, collaboration, and strong leadership skills. Let’s take a look at how to effectively manage a board of directors, helping to ensure your organization’s success!
As an administrative professional, you likely play a critical role in ensuring that your organization’s board of directors operates smoothly. You may be responsible for scheduling board meetings, managing logistics, and preparing board materials. If so, your support is crucial in maintaining a high level of efficiency in the boardroom.
Here are some board of directors management tips that will help you to ensure your board is supported, informed, and aligned with your organization’s goals.
Clear Communication. It is vital to establish clear communication with the board of directors. You must ensure they are fully aware of the organization’s goals and strategic plans. Schedule regular meetings with the board and provide them with comprehensive updates on important issues at each gathering.
Streamline Processes. All processes relating to the board of director meetings must be efficient and streamlined. Develop a set of policies and procedures that will guide the board in its activities. Furthermore, make sure these are adhered to by everyone in attendance.
Foster a Culture of Accountability. Encourage board members to take ownership and pride in their roles and responsibilities. Work to create an environment that fosters accountability. And lastly, empower the board of directors to take action when and where necessary.
Use Collaborative Technology. Utilize technology to enhance the effectiveness of the board of directors meetings. Implement digital tools and platforms to manage and distribute meeting materials, provide regular updates, and keep everyone abreast of progress and growth.
Regularly Evaluate The Board’s Performance. Regularly evaluate the performance of the board of directors. This can be achieved through surveys, peer assessments, or even external evaluations. Once you’ve gathered the data, use this to provide feedback and improve the performance of the board.
Effectively managing a corporation's board of directors is key to ensuring its efficiency and overall success.
As an administrative professional, you have a direct role in helping the board fulfill its critical role in corporate governance. Your role requires clear communication, streamlining processes, fostering accountability, embracing technology, and evaluating board performance.
For more tips and tools on managing a board of directors, presenting to your board, and enhancing your career, look to ASAP. As an EA or admin, you’re the backbone of your organization. You’re responsible for ensuring everything is operating efficiently and effectively, and we’re here to help you achieve that!
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