23 May What is a Board Management Maturity Model?
A maturity score for board members is a tool that helps you determine how well your board manages itself. Its goal is to assist the board members improve their performance and help make the business more successful. The process usually involves a questionnaire that is self-administered after which a meeting with consultants to analyze the results. The majority of models employ a scale of three to five levels to assess the various aspects of your board’s performance. The first level is characterized as impromptu, with no formal standards or alignment. The second and third levels are more defined and contain processes.
The most important element of https://healthyboardroom.com/how-to-choose-the-best-software-solution-for-your-data-security-needs/ any maturity model is the way it prioritizes your board’s development. If you know what your board’s current status is and you can easily determine the capabilities you require to acquire next. Certain models also include generalized estimates of the time it takes to get to an individual level (e.g. “a level change takes around six months and a reduction of 25% in productivity”).
The majority of boards start at the bottom of maturity scale. They are the reluctantly compliant ones that understand their responsibilities and the risks they face. They are not willing to invest any more than the minimum time and resource into governance because it distracts from their primary tasks of managing.
They must be made to recognize that governing, is a distinct, distinct and completely different job is not the same thing as executive management. It requires a totally separate level of professional education assessment, evaluation, and funding. It is a risky activity that tests your understanding, imagination and willingness to take calculated risks in the complex and interconnected external world of physical and political environment, economics, social and technological advancements and demographic trends.