Establishing a board for your organisation can be a daunting. There are many individual tasks that need to be completed in parallel to have your business transition to the next level. Effective Governance has the following five step process to assist your organisation establish formal and advisory boards:
- Assess the current skills and competencies of the current shareholders/members.
- Assess what skills and competencies are required to fulfil the organisation’s strategic direction.
- Compare the current skills of the shareholders against the proposed requirements of the organisation to identify any skill gaps.
- Select board members to fill the identified gaps.
- Draft appropriate policies and documentation.
The outcomes from the process will be:
- A governance framework to suit your organisation, e.g. a board charter, policies, processes and procedures that facilitate the board’s operations;
- A board that complements and supplements the skills of management; and
- The selection and appointment of directors will focus on the necessary and desirable competencies of board members.