Every Board operates within a specific and unique set of business, interpersonal and cultural features giving rise to numerous challenges and nuances in terms of the dynamic, focus and effectiveness of the Board.
Where the primary focus of reviews was originally on compliance, and this remains vitally important, there are opportunities to develop a focus on the Board as an asset and competitive advantage to the organisation. Organisational resilience and sustainability demand progressive Board approaches, balancing risk and opportunity along with keeping pace with rapid organisational change, often now fuelled by technology, means Boards need to be proactive and carefully constituted to respond to these demands.
Board reviews take place for a variety of reasons, some are part of the standard governance schedule of tri-annual external reviews, some are triggered by the regulator or exceptional events such as a change in ownership structure, listing or joint venture. They always require a broad set of skills and approaches and should build to pragmatic and insightful support for Board development. Todays Boards aim far higher than simple compliance, a high performing Board is a competitive business advantage.
Our model supports Boards in creating real and sustained value through effectiveness, capability and resilience, some of our methodology is set out below.
There are a number of different approaches and degrees of touch and intensity that can be deployed depending on need. An interview or feedback process put in place to support internal review or full evaluation of materials, TOR’s, composition, decision process, agenda construction and Chairing in a comprehensive review of effectiveness. Approach is fully tailored to context and desired outcomes- with detailed and practical recommendations provided to support on-going development.
Board effectiveness is increasingly seen as a journey towards becoming a strategic asset rather than a compliance issue. Progressive Boards tend to have a proactive position on continuous improvement – the foundation built on robust analysis, benchmarking, and feedback on performance. Here we share case studies of our work with Boards.
The assignment was commissioned by a large, privately owned international manufacturing and distribution business in the automotive sector. They had a very large Board in place, with complex stakeholder dynamics. There were significant business challenges and market consolidation leading to a changing competitor landscape and activity. Internal processes and structures were under pressure and needing updating and investment. There were also on-going changes in business leadership.
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An oil and gas business was seeking to list on the London Stock Exchange. There were complex stakeholder issues to navigate plus the nascent Board needed a full review and reinforcement of governance prior to listing.
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