Ideally, the board of directors should be the heart and soul of a company. Whether a company grows or declines depends very much upon the sense of purpose and direction, the values, the will to generate customer satisfaction, and the desire to achieve, develop and learn, that emanates from the board and the extent to which it is visibly committed to them.
- Do the board members share a common, clear and compelling vision? Are they committed to an agreed and realistic strategy to the achievement of the vision?
- Have the necessary resources, processes, role, competencies, enabling technology and learning capabilities for successful implementation been assembled?
- Whether special responsibilities for projects that stretch beyond a financial year, such as strategic business developments, entrusted to select directors?
- When the company expands into a international network, whether the governance needs of the new style entity are given a fresh look?
- When the role of chairman and the CEO are separated, whether there is mutual trust and respect to supplement and complement each other’s responsibilities and contributions?