Board analysis involves the examination of the performance data and identifying trends within company data. This helps boards concentrate their attention on the issues that matter, allowing them to support the organization’s strategic direction.
Boards are increasingly focusing on culture and risk management, as well as talent. They are also taking a proactive approach to succession planning. This includes focusing on other roles that aren’t in the C-suite. These include roles in digital business and customer service.
The bottom line is that a business’s strategy is only effective if its employees are capable of carrying it out. Many organizations are adopting playbooks to help them survive and flourish when the economic outlook is uncertain or even dire. Boards who take a proactive approach to this will help businesses rethink their plans for the future and prepare for uncertainty.
Overall, the most effective boards are those that have a chemistry of openness, trust and collaboration. They are knowledgeable about the organization’s structure and pose difficult questions to challenge management. They are aware of their roles as part of a dynamic that is owned by the stakeholders and work together to effect a positive change in the corporate culture.
While the majority of boards are governed by an arrangement that is two-tiered, separating the management board from the supervisory board, multiple variations exist in the different countries and ownership structures. Whatever the specifics the boards all share similar responsibilities. Board BEAM enables users to easily create reports, graphs and self-service analyses based on K-means clusters as well as other advanced functions such as frequency dormancy, recency, dormancy and Nascency.