Board Effectiveness: Fundamental Truths in Volatile Times

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Whether you are serving on the board of a publicly-traded company, private company or credit union, self-assessments are important in that they serve to increase the standards of accountability. Engaging in an evaluation process that is driven by an independent third party will establish a baseline that strengthens the board in an inclusionary fashion, and ensures a future that adheres to regulatory and compliance trends.

Strategic governance transformation is envisioned by the most forward-thinking entities. Creating a process that defines the criteria for board culture and strong governance will lead to the engagement of all participants, allowing them to feel a sense of ownership and directly embrace the changes required. The goal should be to plan and establish a disciplined set of governance priorities and practices that will help guide the board, supervisory committees and all other committees in the coming years.