How to Strategically Build a Board of Directors

build a board of directors

Outstanding board members certainly don’t grow on trees. In fact, finding the right group of business leaders to impact your organization for the better is a true challenge.

Not only must you consider individual fit and ability, but also how the group will work together. Here are some tips to help you tackle this undertaking in pursuit of exceptional corporate governance.

Think strategically about the organization of your board

Before you can expect directors to think strategically about your organization’s future, you need to think strategically about your board. First, take some time to consider what size board makes the most sense for your organization. Perhaps you’ve been operating with 7 members, but changing to 9 members makes sense for tactical reasons.

Don’t choose a number at random; be sure you can back up the decision with consideration and research. Next, update your board member job descriptions. Make sure that the expectations for directors are clear. You can’t anticipate success from anyone unless you’ve provided them with an outlook for their role.
Continue reading

Board Membership 101: Strategic Guidance

Board Membership 101: Strategic Guidance

Leadership is the capacity to translate vision into reality.

He may not have known it at the time, but when Warren Bennis (American scholar and pioneer of Leadership Studies) penned those words, he was aptly explaining what strategic guidance means for the boardroom today.

Directors must be prepared not only to envision the future of the company, but also to find the best way to guide it into the fulfillment of that vision.

To understand what strategic guidance means exactly, we must take a look at the two words individually.

Strategy

Crafting company strategy is an essential function of a board of directors. Simply stated, board members must bring their assortment of individual knowledge and experience to the table in order to seek out the best path forward for the business.

Strategic thinking takes many elements into consideration: goal setting, prioritization, realistic financial planning, and more. The expectation is that board members should be looking at the horizon rather than at the ground beneath their feet.
Continue reading