BOARD EFFECTIVENESS
High functioning boards are a foundational enabler of high performing organizations. As such, we focus on both structural and behavioral mechanisms that support board effectiveness, reinforce fiduciary responsibilities, and deliberately balance immediate results with long term value creation directives
Statistics
0
of surveyed organizations regularly assess board performance
0
state their board directors fully comprehend their companies’ strategies
0
of CEOs claim board members do not appreciate the complexity of their business
1
of directors had a strong understanding of the dynamics of their firms’ industries
1
of participants state boards were completely aware of how their firms create value
Characteristics of low performing boards
Heavily focused on tactical activities rather than long term value creation
Surface understanding of industry complexities, firm strategy, and value proposition
Imbalanced breadth and depth of skill sets required to effectively support the organization
Key decisions rest with select group of board members; back channeling is pervasive
Poorly defined performance management, decision rights, incentives, and feedback mechanisms
Ineffective board succession planning resulting in limited bench strength
Vision Alignment Execution
Illumia understands that each board is characterized by varying degrees of magnitude and complexity. With this in mind, we will jointly define immediate and long term priorities of the board.
We will partner with the board executive team to understand the past, present, and future elements of the board, devise a clear path forward, and deploy mechanisms that enhance board effectiveness.
Our approach encapsulates board assessments, director selection, onboarding, development, and succession, as well as structure related elements designed to enable high functioning boards.
Structure + Behaviors
Our team will consider both structural and behavioral elements of board effectiveness.
Illumia’s methods are deployed to objectively understand structural elements of the board. We will leverage our leading practices to evaluate and enhance performance management, decision rights, incentives, and interlock components associated with improved board effectiveness.
In parallel with structure, we will focus on mindsets, habits, and behaviors that drive board engagement, increase commitment to responsibilities, and enhance transparency while reinforcing fiduciary responsibilities of operating as a high functioning board.
Results Orientation
We deploy incisive methods that enable transparency, drive alignment, and achieve results.
Our approach is anchored in leading practices, objectively illustrates opportunities, and includes constructive and actionable plans to dramatically improve board effectiveness.
The outcome provides for a well thought out combination of structure and behaviors designed to enable high functioning boards while delivering long term value creation directives.
Get in Touch
To learn more about us, contact our team at: info@illumiaconsulting.com
For Inquiries call: 312-772-6737
ABOUT US
We cultivate teams that strive to achieve dramatically transformative outcomes — achievements that alter the very DNA of the organization while considering both financial and human elements.
Our approach is anchored in nearly 40 years of research, psychology based effectiveness tools, and a network of 2,900+ partners while serving clients across aerospace, alcohol, automotive, building materials, consumer products, defense, education, financial services, food services, government, healthcare, health and wellness, industrials, life sciences, media & entertainment, military, mining, restaurants, technology, transportation, and venture capital industries.
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CONTACT INFORMATION
Email:
info@illumiaconsulting.com
Phone:
312-772-6737
Address:
10 South Riverside Plaza Ste 875,
Chicago, IL 60606
United States of America
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