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Top 5 Governance Opportunities of 2020
 

1. Optimize governance structure and composition to achieve the highest board and organizational performance.

1. Optimize governance structure and composition to achieve the highest board and organizational performance.

  • Reconsider board and committee structure, meeting frequency, and decision-making processes—it’s critical to be more nimble, efficient, and decisive than ever.
  • Add necessary governance competencies and skills, via board education and recruitment.
  • Be intentional about creating a high-performing board.

MEMBER RESOURCES:

Board Recruitment (Intentional Governance Guide)

Board Organization and Structure (Intentional Governance Guide)

Board Education and Development (Intentional Governance Guide)

Board Evaluation and Performance (Intentional Governance Guide)



2. Become a strategic board that can dig deep, take smart risks, and facilitate transformation at a faster pace.

2. Become a strategic board that can dig deep, take smart risks, and facilitate transformation at a faster pace.

  • Commit to spending more than half of board meeting time on strategy.
  • Address the risks of not taking risk and lead in the face of uncertainty.
  • Restructure board policies and procedures to expedite decision making and support the board’s ability to respond effectively to disruptive forces.

MEMBER RESOURCES:

Keys to Establishing Agile Boards for a Disruptive Environment (System Focus article)

Setting Strategic Direction (Strategy Toolbook)

Accelerating Value with Two-Sided Risk (Strategy Toolbook)

Innovation (Strategy Toolbook)



5. Cybersecurity

5. Cybersecurity

  • Build an effective cyber risk management program.
  • Know your organization’s appetite for cyber risk.
  • Ensure the board is informed of any risks or incidents and involved in decisions about mitigating and managing those risks—cyber risk is a board responsibility.

MEMBER RESOURCES:

Building an Effective Enterprise Cyber Risk Management Program (BoardRoom Press article)

Myths and Fallacies of Computer Security in Healthcare Environments (BoardRoom Press article)

Cybersecurity Responsibility and Accountability: What Directors and Officers Must Understand About Managing Data (BoardRoom Press article)



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