The Board Management Maturity Model

The way a board operates – the way that it prepares for meetings, examines problems, creates reports and manages data changes over time. Aboards don’t know this but a maturity framework can help them chart their development.

A board maturity assessment is https://healthyboardroom.com/ more thorough and comprehensive than an annual review. These assessments provide boards with a plan that can help them reach the next level of governance maturity.

The majority of boards start at the smallest level of the maturity of their management. They are boards that are willingly to comply, who are aware of their obligations and public exposure but view governance as an obstacle to their ‘proper jobs’ of managing the business. The first step is to change boards from seeing governance as a burden for the administrative and to develop home competency in strategic thinking.

Models of maturity typically comprise of three to five levels which assess the quality of governance practices within a business. They evaluate domains such as board management, risk supervision and stakeholder engagement. The first level is usually defined by impromptu process without formal standards or alignment, whereas the third and fourth levels have more clearly documented methodologies. These techniques could include benchmarking, interviews, or questionnaires. Interviews can show a team’s dedication and enthusiasm towards specific processes while surveys administered by an independent third party are more systematic and provide a more balanced view of the board’s current state of maturity.