A board is a set of people who supervise and directs an organization to ensure that it is legally operating and in the best interest of stakeholders and shareholders. It does so independently of company management and day-to-day operations. The role of a Board is crucial especially in a society that is constantly changing and become more volatile due to new risks.

A well-run board consists from a variety of skills, experiences and leadership styles. This includes diversity of thinking, and the ability to think out of the box and look at the situation from different angles. The composition of the board must be carefully thought out and planned in accordance with the demands of leadership in the future.

Boards also have to be agile and flexible enough to adapt to rapidly changing circumstances, which could require them to reconsider their structure and committees. For example, the rapid rise of cybersecurity threats has https://boardmanagementsystem.info/what-is-the-biggest-challenge-facing-the-ceo-of-today/ required boards to find new expertise in this field. Additionally, global volatility has prompted boards to seek out directors with experience managing through challenging times.

A good board should be able to recruit and retain members with a variety of backgrounds, skills and perspectives which can help the board achieve its goals. This is why it’s important for boards to implement a matrix for their boards that helps in attracting people with the right mix of soft and hard skills. This can be used in conjunction with a board portal such as iBabs which can assist new directors become proficient quickly by offering them more opportunities to collaborate and interaction with their colleagues.