Active boards and CEOs: Making progress together
Facing newly active and engaged boards, the first reaction a CEO feels may be frustration. With all these perspectives flowing in, how will the leader be able to make clear management decisions? According to the Harvard Business Review, there are ways to make this alliance work, and the overall impact can improve a company. (Aug. 8, Banta and Garrow) The advice boils down to four ideas:
- Individual interactions between leaders and board members are a great way to achieve progress. It's easier to address concerns and communicate when dealing with people one-on-one instead of one-on-many.
- Less structured communications, carried out more often also represent a valuable approach. CEOs who only communicate with the board through structured meetings and slide-centric presentations may not have the in-depth connection today's active directors want.
- Giving more leaders face time with the board may deepen the relationship between directors and management. When the CEO isn't the sole point of contact, board members will gain deeper knowledge and appreciation of the organization's current status.
- Determining a strategy with board feedback tends to beat taking a mostly completed strategy to the board. Executives who keep the board briefed on their strategic progress as it happens may find the collaboration process is smooth and effective.
When executives take some of the formality and structure out of their interactions with directors, they may make impressive progress toward their shared goal of strengthening the company.
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