A model of maturity for the board is a method used to evaluate how well your board of directors manages itself. Its goal is to help the board members improve their performance and make the company more successful. The process typically involves a self-administered test, followed by a meeting with consultants who interpret the results. The majority of models employ a three to five levels scale to assess various aspects of the performance of your board. The first level is characterized by impromptu procedures that do not have formal standards or alignment, while the third and fourth levels have more clearly defined and defined processes.
The most important aspect of any maturity model is how it prioritizes learning for your board. Knowing your board’s current maturity level makes it easy to determine what skills you’ll need learn next. Certain models also include generalized estimates of the time it takes to move up an individual level (e.g. “a level change is approximately six months and a reduction of 25% in productivity”).
Most boards begin at the lowest level of maturity with the most grudgingly accommodating ones https://healthyboardroom.com/how-to-choose-the-best-software-solution-for-your-data-security-needs/ who are aware of their responsibilities and personal exposure. They aren’t willing to put any more than the minimum time and resource into governance as it diverts attention from their “real” tasks of managing.
They are the ones who must be forced to accept that governing is a separate, distinct job from executive management, one which requires professional development and assessment as well as the appropriate funding. It’s a risky job that challenges your thinking, understanding and willingness to take calculated risks in the complicated and interconnected external world of politics and economics.
