Since boards of directors are self-governing bodies, it’s important that they take the time to reflect on their performance both individually and as a group. The New York Stock Exchange requires listed companies to participate in some form of an annual self-evaluation, so many organizations already have a process in place.
But for some of these companies, board self-evaluation can be met with an attitude of obligation rather than receptivity to the benefits of a well-executed assessment.
For other, smaller companies, the practice of yearly self-evaluations has simply been overlooked in the past. These assessments, however, provide an outstanding resource for bettering board functionality. For example:
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