Your board of directors is in serious trouble and seems to operate in a crisis mode. Immediate corrective action is indicated.
If you are making money, it’s probably because the people you have in place right now can do the job. But will this be the case in 3-5 years? At one time you may have had some clear direction from the board, but, for whatever reason, these best practices have eroded. Apparently no one has asked recently, “Do we have the directors to support our long-term goals?”
Start by clearly formulating a strategy for the next 3-5 years. You can use the assessment tool on this site to help you get started. Now, ask, “Who will oversee this?” If you don’t have the right directors onboard, you will need to start recruitment immediately. If you do, you’ll need to focus on developing the talent you already have.
If you need help with board development or director evaluations, give us a call for a free consultation at 636l.537.3774. Also consider the resources on this site:
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