Ten qualities your board members must have By Roger Sweeney Ed. Note: Here is what best practices in board composition look like from the perspective of an expert in turnarounds and change management.
The Chicago-based firm provides C-level interim executives. Often On short notice, who step in to address a company's critical operational needs. These companies can be facing significant potential loss of shareholder value stemming from management issues, regulatory challenges, post-merger integration problems, a need to restructure underperforming assets, or other transitional business issues that cannot be optimally addressed by the existing management team or board of directors.
Sweeney has been personally involved with over successful turnaround situations. It is not uncommon these days to read a I report or hear a story on the news that tells the tale of a failing business, corruption in the marketplace, or an economy in turmoil.
Along with these stories often comes criticism of the CEO, senior management, or other leadership - namely, the board of directors. The weight of decisions falls on their shoulders. That is why having leaders who meet the following criteria on your board can be critical to navigating through uncharted or choppy waters as the economy hopefully starts to surge again soon.
This individual can also stimulate creative thinking and "one-off" approaches to penetrate new markets. Knowledgeable on market and business trends, new boards member essay, and "opportunities ": When a person has real world, versus theoretical, experience, it makes a world of difference.
Furthermore, this board member can provide opportunities for PR, press, and governmental relations purposes that may have otherwise fallen to the wayside.
Approachable and available: A person with these qualities is collegial and easy to work with which builds bridges, solves problems, and does not create barriers to solutions. Understands how boards function: He or she understands roles, committee structure and functions, confidentiality, and board policies and dynamics - all of which are crucial in serving as an important and valued board member essay.
Has good manners: An individual with good manners is always on time, knows not to use a smart phone during meetings, does not doze off. Does not read other materials during the meeting, etc.
While this may sound like the most basic quality of them all, good manners, unfortunately, are not always given the consideration they deserve. Has a good grasp of U. The foundation for the long-term success of a corporation is in the strength of its board of directors.
Highly qualified directors exhibit these 10 qualities, which set the standard for the management team and reputation of the company.
10 Ways to be an Awesome Board Member