The primary outcome from a board evaluation is a shared understanding of what is important and how effective the board is on the most important factors. Unlike other board evaluation and feedback service providers, the Guerdon Associates method assists the board identify the factors that have most impact on shareholder value.
The identification and prioritisation of the gaps between what is important and where improvement is required enables an action plan at board and individual director level to improve and fill these gaps.
In addition, perception of gaps can vary with those doing an evaluation. While our basic approach relies on director assessment, we can also incorporate the assessment of other stakeholders, including executives and institutional investors.
The typical process involves:
In response to specific development needs, a cut down on-line “5-minute” questionnaire can be developed for director completion after each meeting, with semi automated reports providing rapid feedback on the aspects identified as most important.
The board and director evaluation process can be tailored to meet each board’s needs. This may range from a quick “pulse check” on-line questionnaire to a more engaged and in-depth process to discover what is critical to focus on for incremental value creation and preservation.
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