A maturity assessment of your board is a tool that lets you determine how well your board is managing itself. Its aim is to help board members improve their performance and make the company more efficient. The process usually includes a self-reporting questionnaire that is followed by a meeting with consultants who interpret the results. Most models use three to five levels to assess different aspects of the board’s performance. The first level is described as impromptu and without formal standards or alignment. The third and the second levels are more specific and contain processes.
The most important aspect of any maturity model is how it prioritises learning for your board. If you know what your board’s current level it is simple to determine the capabilities you require to acquire next. There are models that provide general estimates of the time it takes to advance the level at which you are currently (e.g. “A level change can take about six months, with a 25% decrease in productivity”.
The majority of boards start at the lowest level of maturity and are the ones that are reluctantly acquiescent who understand their responsibilities and personal risk. They are hesitant to commit more time and money than is necessary to governance, because they are unable to focus on their actual tasks of managing.
They must be made to realize that governing, is a distinct, distinct, and a completely different job is not the same as executive management. It requires a totally distinct level of professional development assessment, evaluation, and funding. It is a high-risk activity that tests your knowledge of https://healthyboardroom.com/how-to-choose-the-best-software-solution-for-your-data-security-needs/ your imagination, creativity and willingness to take calculated risks in the complex and interconnected external world of politics, physical environment, economics, social and technological advancements and demographic trends.