Many boards are vague on what board meetings discussions should focus on. I recall a family owned manufacturing company, where the directors met to discuss monthly management reports. A senior member of an accounting firm was chairing these meetings. There were reactive arguments throughout one such meeting (I had the opportunity to observe) which lasted an hour and a half. The chair was dominating the meeting and ultimately making decisions without much contribution from the other directors and executives. They considered these to be board meetings as they comprised of directors and the head of finance.
My point is, there are many such companies who have not evolved to the new reality. The global landscape rapidly changes and boards must prepare more than ever before. Board level discussions and management meetings must have clear distinctions. In this article, I reveal 7 signs of an effective board.
1) Focused on Priorities: The...
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