What is a Board Management Maturity Model?
A board management maturity is a tool that helps you evaluate how well your board is managing itself. Its objective is to help board members improve performance and make the company more efficient. The process typically involves an assessment that is self-administrated and then a discussion with consultants to analyze the results. The majority of models employ three to five levels to assess the different aspects of your board’s performance. The first level is characterized as impromptu, with no formal standards or alignment. The third and the second levels are more defined and incorporate processes.
The most important characteristic of any maturity model is how it places a high priority on learning for your board. Knowing your board’s maturity level allows you to easily determine what skills you need to acquire in the future. Some models also provide general estimates of the time it takes to advance an individual level (e.g. “a level change will take about six months and a 25% productivity reduction”).
The majority of boards start at the lowest level of maturity those who are grudgingly obedient who know their responsibilities and personal risk. They are reluctant to dedicate more time and resources than is needed to governance because it takes them away from their more important tasks of managing.
They must be taught to recognize that governing, an entirely different, unique and completely different job is not the same thing role of company secretaries as executive management. It requires a totally different level of professional growth assessment, funding, and evaluation. It is a risky activity that tests your knowledge of the mind and ability to take considered risks against a messy and interlinked external world of physical environment, politics economics, social technological advances and demographic trends.
