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Efficiency in Board of Directors Documents

When board documents are difficult to find or are difficult to understand directors are less able to take part in meetings and discuss strategy. This is especially true if the meeting agenda is not available in time or if any changes aren’t communicated in real time to all board members. This can cause confusion about the “right version” to review.

It’s difficult for boards to monitor and oversee companies if they do not have complete information and don’t have enough director discussion between board meetings. Board meetings with no specific agenda items that may not provide adequate background on the strategic issues, or that are too long with no relevant discussion, make it difficult for the chair of the board to move the board along.

Boards have an important role to perform as stewards for their companies, and frequently have a significant influence on business performance. Ineffective boards can lead to toxic. A dysfunctional board may be characterized by a tense and unruly membership, who simplify complex issues or engage in discussions which diverge from the subject. And, even more troubling than that, it might have members who are absent or MIA.

Boards are complex and the success of a board requires the involvement of a diverse group of individuals who bring diverse perspectives abilities, experiences, and perspectives to the table. This is why many boards have formed audit and compensation committees, nominating and governance committees as well as financial services-regulated risk committees as well as their standing committees for board members. Some have even ad hoc committees to help them address shorter-term, more urgent matters.

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