Back to the Basics: An Overview of Board Member Responsibilities
by December 11, 2018 and last updated on February 4, 2019 on
At first glance, it would seem that the boards and their board member responsibilities are irrelevant or only have a small impact to the operations of the company. But in reality, a board’s performance can make or break an organization. A recent study by McKinsey reports that boards who can execute core operations and maintain good board relations, deliver stronger financial returns for the company. The extent of the effect of board members, also involves some of the common problems that companies have been facing for years. For instance, tension between the CEO and the management, or between the CEO and the board itself, can be due to the fact that the board was not that thorough in the recruitment and evaluation of the candidates for the CEO.
Seeing as how much a board affects the entirety of a company’s strategy, direction, and operations, shows that improving the way boards work can ultimately provide value for the company. Evaluate your board’s performance by checking how well they execute these six basic board member responsibilities.
Transforming the Way You do Meeting Minutes
by October 31, 2018 and last updated on January 28, 2019 on
Principle 1: Learn from the ancient Egyptians
Taking meeting minutes is an essential activity in all board meetings. But have you ever wondered why it is such a necessary task?
The reason finds its roots deeply in our biology and our psychology. To illustrate, let’s look at our history.
The Relevance of Board Assessments
by September 20, 2018 and last updated on January 14, 2019 on
A board of directors’ main purpose is to ensure the organization’s success by jointly directing the company’s activities; this is achieved by making key decisions that would impact the organization’s bottom line. Appointed to act on behalf of the shareholders, they are entrusted to deal with issues pertaining to corporate governance, corporate social responsibility, and corporate ethics among others.
Considering the weight of their responsibilities on a company’s performance, it is quite surprising that very few organisations conduct regular assessments and derive meaningful results. In India, board assessments were a non-mandatory requirement under Clause 49 of the Listing Agreement. This is prior to Securities and Exchange Board of India’s (SEBI) Guidance Note which detailed guidelines on how board evaluations should be conducted.
Furthermore, on a study conducted by the Rock Center for Corporate Governance together with The Miles Group, it found that most board evaluations fail to recognize and correct poor performance among individual directors. In this nationwide survey of 187 boards, the results suggest that directors do not give each other honest feedback and boardroom dynamics are often sub-optimal. (more…)
The Evolution of the Board Pack: 5 Ways on How to Improve It
by September 13, 2018 and last updated on March 6, 2019 on
You rummage through your briefcase in search of your board pack: you see that some of the pages got folded because your board pack wasn’t properly stored away. After quickly going through the content, you realize that there are misprints and errors! And you don’t have time to make the necessary changes because your board meeting is in five minutes – To make things worse, you notice that some parts of your board pack, which happen to be confidential data, are missing!
Although this scenario may be a bit of a stretch, it can still happen to board directors who sit in multiple board meetings in a year. What, then, can you do to improve the quality of your board meeting packs and avoid a similar situation? Listed below are five ways on how to revolutionize your board packs:
How Cybersecurity Affects the Evolving Role of the Corporate Secretary
by September 7, 2018 and last updated on September 13, 2018 on
Rapid digital transformation has encouraged companies to move critical aspects of their business onto electronic platforms. Adopting these new technologies may mean more efficient business processes and an increased operational productivity, but these transformations do not come without risks. In dealing with the advanced technologies of today, traditional security standards may no longer be enough.
Start Reducing Cost and Improving Board Efficiency Today
Convene is our very own board portal solution. What makes Convene special?
- Enterprise-grade security: encryption, access rights control, device security
- Cross-platform support: native iPad, Android, Windows and Mac apps + web access
- Automatic conversions to PDF to reduce manual conversion
- Real-time private and shared annotations with automatic archives
- Live control of other devices to synchronise pages during the meeting
Convene has many other features to improve boardroom productivity, security, and governance. or learn more about Convene's features >>