Over time, the way a board conducts itself the way it prepares for meetings, looks at issues, prepares reports, and manages data, changes. Boards don’t realize this, but a maturity model can help them track their development.
A board management maturity assessment is more comprehensive and deeper than an annual review. These assessments provide boards with a path that can help them achieve the next level of maturity in governance.
Most boards begin at the lowest point in the maturity of their management. They are boards that are compliant, who understand their obligations and public visibility but see governance as an imposition to their “real” jobs of managing the business. The first step is moving the board away from viewing governance as a burden for the administrative, and towards developing the ability to think strategically at home.
Maturity models typically contain three to five levels that evaluate the effectiveness of https://healthyboardroom.com/is-your-team-ready-to-handle-a-board-crisis/ governance techniques within a business. They evaluate areas such as control of risk and management of boards engagement of stakeholder and the effectiveness of governance. The first stage, Level One, is typically defined by impromptu processes without formal standards or alignment, while the second and third stages have more clearly defined and standardized methods. These methodologies may include benchmarking, interviews or questionnaires. Interviews can reveal the team’s enthusiasm and dedication to a specific process while surveys conducted by a third party independent are more methodical. They also provide more of a complete overview of a board’s maturity level.
