The Board Management Maturity Model

A maturity test for project management can be used to evaluate the current state of process competency within an organization. It is also useful for setting goals and creating an action plan to make improvements.

Most boards begin at the lower end of the board’s maturity scale. They know their responsibilities and the risks involved, but are hesitant to invest time in governance, claiming it is distracting from their more important tasks of running the company. It is essential that boards are aware that governing is a process that requires its own level professional development assessment evaluation and training. It is also a risky endeavour that https://healthyboardroom.com/evolving-role-of-company-secretaries/ requires the imagination, willingness and skill to be able to take risks against an interconnected and messy external world of economics, physical environment developments as well as demographic trends and cultural changes.

The next step is for the Board to make the conscious decision to move along the ladder of management maturity for boards towards ‘The Learning Board.’ This requires moving beyond the traditional emphasis on Accountability and Management Supervision to a focus on Policy Formulation and Strategic Thinking. This is a significant shift in the way that boards function and requires external support in order to implement the new thinking. It also involves establishing an established procedure for publishing trends about the board’s collective knowledge and emotional state. It is also a time when the Chairman, supported by the Company Secretary, must lead the changing of a board’s agenda away from hard business results and toward a more focused agenda that focuses on the company’s unique external challenges.