Our registry includes vetted, qualified professionals with an interest in board roles.
Contact us if your board seeks top notch directors. ***
Board Evaluation An independent board evaluation can introduce new ideas for best practices.
We conduct independent board evaluations based on best practices and opportunities for improving board performance and contribution.
Contact us to learn about our review process.
Assess Impact and Effectiveness of Your Company Diversity
In today’s workplace, diversity is a fact. Inclusion is the competency we must develop to take full advantage of its value. The return for companies who master this are significant. Directors have the duty to ensure and monitor these benefits: access to a broader pool of potential employees, ability to attract a more skilled workforce talented individuals prefer a diverse workplace, richer and more creative solutions, improved effective communication among diverse groups of customers, higher innovation and increased retention of the best workers.
Addressing Group Dynamics as Part of Your Board Assessments
by Donna Hamlin, Ph.D.
The latest PwC’s 2021 Corporate Directors Survey* notes boards and individual director assessments are a critical piece of the puzzle for boards looking to improve. To be effective, a board’s assessment process needs to be honest and thorough. Most importantly, it needs to lead to action or change.
On the positive side:
the majority of directors (88%) report their board has effective processes,
89% give their board leadership high marks for how assessments are led, and
more than three-quarters (76%) say there is sufficient follow-up afterwards.
Yet, boards still cite limitations.
67% of directors say it is difficult to be frank in the process, and
52% say it is too much of a “check the box” exercise.
In addition, recent research of the “Four Common Biases in Boardroom Culture”** cautions that board members may overlook the importance of group dynamics and the impact of personal biases brought to the table. The four key ones that may be in play are:
Authority bias: Showing too much deference to – and reliance on -subject matter expert directors, who influence to balance in discussions.
Group think: Putting harmony and conformity before debate and open discussion of dissenting vies
Status quo bias: Overvalue for what directors know works vs. pursuing initiatives that involve substantial changes, e.g., an overhaul of a business model.
Confirmation bias: Overvalue evidence that confirms personal beliefs instead of challenging them.
Does your board evaluate these human elements that contribute to the boards’ effectiveness?
We include these in our BOARD SCAN independent board assessment process. Our assessment includes twenty key areas of board performance. Two specifically address the
possible concerns noted in the survey and behavioral psychology in the recent research.
We know the best way to avoid confirmation bias is to encourage diversity of thought. We include in our Board Bona Fide tool our proprietary psychometric assessment of orientation to individual problem-solving and board styles. This helps you understand if your composition of directors is too homogenous vs. well-balanced in diversity of thought. Our research shows boards made up of high diversity of thought increase the quality of problem-solving and innovation, provided the members understand diversity and how to respect it within the group.
We explore the board interactions to identify existing or potential patterns that can be replaced with more effective behaviors and practices.
To learn more, here is a link to a short interview that explains more about the Styles of Thinking dimension to the BBF analysis. https://youtu.be/cpFDIWaubnk
If your board could benefit from enriching your board evaluation with a deeper look at group dynamics, feel free to contact us.
Serving as a board director is both an honor and a duty. This program equips directors with the understanding about their responsibilities, the current and emerging challenges and trends which face them and the fundamental knowledge and skills they need to be capable contributors to public, private and advisory boards. Arm yourself for success with this highly interactive program and secure a level one board certification.
WHAT MAKES THIS PROGRAM DIFFERENT
Our Board Professional Program is for aspiring and current board members who want to increase their ability to engage meaningfully in discussions of leading-edge topics, ask sharper questions more easily, delve to the core of critical issues and improve proportional impact in a boardroom to create more shareholder value – not just conceptually, but tangibly by helping management think more critically about decisions.
Boardwise offers 8, 2-hour modules of training that span from “welcome to the boardroom” to leading-edge technology application, including AI-Decision Science and Cybersecurity.
Our modules are strikingly different from other programs. Other programs are structured as more lecture-oriented knowledge downloads, often around regulatory and compliance topics to prepare for test-taking or compliance.
In contrast, Boardwise modules offer:
Guest speakers and breakout sessions that enable peer-to-peer discussion and immediate “learn by doing.”
Leading-edge topics such as AI and Decision Science, Cybersecurity, Data and Digitization. The discussion orients to a topic – drawing on life experiences – to understand the concepts and limitations, assumptions that can trap, errors frequently made by management, and sources of success and failure.
This enables participants to ask sharper questions – questions that help lift management out of the weeds, challenge existing knowledge/assumptions/frameworks and see with new lens/perspectives to avoid wasteful churns and pivots.
As one person said, it seems “Montessori-style.” Modules and discussions are designed to enable knowledge retention and application to empower you in your boardroom.
TOPICS AND CONTENT
This program has two components.
INITIAL ORIENTATION – assessment and personal one-one one video call with Boardwise expert
Participants complete an online Board Bona Fide® assessment to establish current board readiness. You have a one-hour private session with a board expert coach to review your profile; discuss what type of board is the best match and explore suggestions for how to achieve your goal to serve on a board.
GOVERNANCE EDUCATION SESSIONS – live educational sessions online
The live interactive program includes eight sessions, each of which is two hours.
The modules include presentations and interviews with experts on governance and the hot topics which directors must address today, including:governance differences among countries, cybersecurity, risk management and decision-making, artificial intelligence, strategic designs, financial foundations and emerging challenges in digital transformation and diversity.
Each session includes interviews with topic experts, facilitated presentations related to director duties and cares on the topic and experiential board exercises based on real-world situational cases. Cases are used for board simulations and discussion. Homework assignment are provided a week prior to each session for participants to read and prepare.
Governance Sessions Topics
FUNDAMENTALS OF BOARD SERVICE
BOARD’S ROLE IN STRATEGY AND INNOVATION
BOARDS AND BIG DECISIONS: CYBER&BIO SECURITY AND RISK MANAGEMENT
BOARDS AND BIG DECISIONS: ARTIFICIAL INTELLIGENCE AND DECISION-MAKING
BOARDS AND BIG DECISIONS: ROLE OF BOARDS IN THE DIGITAL AGE
THE CEO, YOUR BOARD STYLE AND BOARD DYNAMICS
Why This Program?
Taught by world-class global experts in corporate governance, you will:
Learn the latest in governance issues and how to manage them;
Prioritize board roles and responsibilities;
Understand the economic, legal, reputation and fiduciary responsibilities of directors;
Feel empowered to ask the right questions and make important decisions
Understand and improve your effectiveness on a board;
Learn about best practices for evaluating company financial and strategic performance;
Improve committee effectiveness and personal director contributions;
Consider ways to improve board mix, meeting effectiveness, relationships with shareholders and stakeholders and increase overall corporate reputation;
Compare practices and ideas with director colleagues from other companies who participate;
Become a more effective, knowledgeable leader in corporate governance.
Join those board directors who understand: board learning is a permanent commitment.
HAPPY SEASON OF THANKFULNESS
We are grateful for the opportunities to serve and develop such wonderful friendships as we learn and work together.