Board analysis is the study of the performance data and identifying patterns within company data. This helps boards concentrate their attention on issues that are important, enabling them to support the organization’s strategic direction.
Boards are increasingly focused on culture, talent and the management of risk. They are also adopting a more proactive approach to succession planning. This involves looking beyond C-suite managers, to the lower ranks of digital business, and other roles that are essential to a company’s success including security or customer service.
In the end, a company’s plan is only effective if its people are able to carry it out. To improve this, many organizations are embracing new playbooks that can help them stay relevant and prosper when economic forecasts are uncertain or even dire. Boards that play an active role in this direction are assisting companies to rethink their plans for the future and prepare for uncertain times.
Overall, the most effective boards are those that have a chemistry of trust, openness and cooperation. They are well versed in the corporate ecosystem and are able to ask difficult questions to challenge management. They know their responsibilities as part of a dynamic that is owned by the stakeholders and can work together to bring about positive changes in the corporate culture.
Although most boards operate with an arrangement that is two-tiered, separating the management board from the supervisory board, multiple variations are found in different countries and ownership structures. Whatever the specifics the boards all share similar responsibilities. Board BEAM lets users easily create graphs, reports and self-service analyses based on K-means clusters, as well as other advanced functions such as frequency, recency, dormancy and nascency.