RHR International Paul Winum's new post: "What Do Management Teams Want from Their Boards?" shares recommendations for boards from members of management who interface with the board/board committees that are aimed at optimizing management's performance and leveraging the board's collective skills and experience vis-a-vis the management team for the betterment of the company.
Suggestions include:
- Each director should proactively seek to thoroughly understand the business as it evolves over time.
- The board should read the "show & tell" information (report-out pre-read materials) before the meeting, and spend more time discussing strategic issues with management during the meeting itself.
- Nose in, fingers out on operational matters
- Directors should leverage their key contacts that are relevant to the company's business by facilitating relationships between those contacts and members of management.
- For those directors who are willing to "invest" in management's development, members of management benefit from directors' business experience through personal/direct interaction.