In the Code of Corporate Governance of the King Report, companies and enterprises are urged to undertake regular assessments of the performance of their boards of directors and committees of the board. However, no guidance is given of how to go about this. For many companies it is an entirely new concept and therefore directors need to get guidance on where to start, what to watch out for and what needs to be done when the assessment is finished. This book is aimed at filling those gaps.
How to do Board Evaluations provides directors with practical step-by-step guidance on structured board assessments – from where to start, to potential pitfalls and the post-assessment actions required. The book goes beyond compliance with the recommended best practice – it also focuses on assessments for addressing weaknesses and achieving an overall improvement in the way individuals, committees, boards and especially their leaders perform.
The LegalEase series makes the law easier to understand without losing the context in which it operates. Legal Essentials books are guides and checklists that provide A-Z instruction on how to comply with the law and achieve best practice within an organisation. These books are definitive reference works to ensure compliance, good governance and the management of organisational risks. Books in the Essentials series provide clear and concise explanations of the law and detailed help for specific compliance-related tasks. Written for practical use, these books show readers how to apply the law efficiently in day-to-day operations.
Introduction to board evaluations
Why should boards be evaluated?
Why is the board there at all?
The process of conducting board evaluations
The objectives of a board evaluation
The methodology of board evaluations
Evaluation performed by the chairman
Evaluation performed by an independent service provider
What will be evaluated?
How will the evaluation be done?
When will the evaluation be done?
How will the results be collated?
Designing the questionnaire
Sample questions relating to board evaluations
Keep it simple
The problem of overcommitment
The questionnaire template
Corporate consultants and administrators
Professional service providers
Board committee members