How boards are measuring up to scrutiny
The chairman of the Institute of Directors (IoD), Dr Neville Bain, has said that the recovery of the UK economy into sustained growth will be driven by the fitness of company boards, and their ability to provide clear direction for the enterprising talent within the commercial sector.
The defining characteristics of successful boards are those with the right strategy, the right people with the right skills and motivation, explains IoD director Ryan Ahern.
They have clear values well communicated and practised throughout. Leadership of the organisation comes from the board or equivalent body and it is the board that sets the organisation’s vision, purpose and values.
Evaluating a board’s performance and its ability to perform its duties successfully is an integral part of good governance.