The article employs examples from NASA (HST), Volkswagen and Wirecard in order to show how boards can miss early signs of danger. It stresses the importance of not just recognizing these warning signs, but also to take action on these signals. This can be accomplished by an effective board review process, which helps boards assess their own effectiveness and performance.

The authors stress the necessity for boards to examine their own performance, and the performance of the entire organisation, to identify gaps and opportunities to improve. In addition, they emphasise the importance of using the expertise of consultants outside to ensure that the agenda of the board is complete.

A board room review is a process which examines the performance of a board of directors in relation to the expectations of the business. It could be an ongoing internal evaluation using a cost-effective world class benchmarked survey tool like those from Board Surveys or a more individual external evaluation that is tailored to the requirements of the company.

It is vital that the boardroom be an area where members are able to speak openly and honestly. They must be able to focus on their work without being distracted or interrupted, and they should feel at ease discussing sensitive topics. A conference room with big chairs and tables with trestle designs could be beneficial. It should also feature an environment that is soundproofed to ensure that conversations are private. The latest technology, such as Bloomberg plug ins or the most current quotation systems can help. A virtual meeting space allows participants to participate in meetings at their home, office or even on an airplane. This facilitates the process.

this link grbestpractices.org/protecting-customer-data-and-gdpr-compliance/