BOARD
DESIGN AND BUILD
The days of smoke-filled rooms, with ‘friends’ getting together to discuss the company’s future are long gone, but unfortunately ‘rudderless’ boards continue. Smart companies and savvy stakeholders now want their boards to be a council of strategic advisors that can be fluid and flexible and have a deep understanding of the company and its future.
With nearly 30 years of experience in operations, coaching, and investing, at NEDx we may have learned a thing or two about what an effective, well-run board looks like. We have gleaned most of this hard-earned knowledge from witnessing what not to do.
Too many boards are poorly organised, with little or no -re-structuring, and an imbalanced composition of members.
Building a board is incredibly challenging, yet getting it right is critical in setting the tone for success from the start, elevating a burgeoning start-up to the next level or meeting the long-term needs of a rapidly growing business. When we are engaged to design and build a board, we spend a significant amount of time in the pre-build phase to ensure the foundations are strong. We spend time with the stakeholders, management team, existing board members to understand the dynamics, objectives and needs of the various stakeholders.
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Key fundamentals in designing and building high impact boards:
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