Board of directors training can help a board fulfill its role and make a real difference to a company’s performance. Good board of directors training takes you through the mechanisms of the world’s best performing boards and helps you explore your own board challenges. It takes a practical and pragmatic approach – because every board has a unique role in company oversight and duty to stakeholders. Here are some things you should expect from board of directors training.
Expect to work with experienced leaders
During board of directors training programs from top business management schools, you’ll work with expert faculty and high-performing directors and chairpersons. They aren’t just there to show you what they do well; they will challenge you to build your own insights in into what works – and why it works – through case studies of top performing boards. Then, they work directly with you to develop action plans for your own challenges.
Expect peer interaction
You have a lot to gain in sharing with your peers in board of director training. To best deliver as a board member, you need to tap into the essentials of your background, experience and knowledge. This will best become apparent in a highly interactive atmosphere where you debate and challenge one another on supervisory board issues and the exigencies of corporategovernance best practices. On the board, you need to leverage your complementary competencies. The same is true during board of directors training.
Expect to learn board dynamics
Board composition and dynamics are critical to best operation. Within the framework of positive board culture, the board will leverage their diverse skill sets to excellent advantage. Board of directors training programs help build the skills for driving positive board culture - especially if undertaken as a team.
Expect to learn about role, risks and opportunities
The role of a board of directors varies by type of organization and jurisdiction. And on top of that, it may be difficult to define your own board’s specific supervisory function and reach. A board of directors that demonstrates effective strategic involvement will carve out its own best role. Board of directors training will shed light on board-specific strategies to mitigate risk and maximize opportunities. You’ll develop the skills, tools and frameworks for action plans to address challenges and boost your board’s performance.
Expect corporate governance best practices
There is much debate about what makes for corporate governance best practices. The truth is that they are not the same for every company. With board of directors training, you should get a hands-on opportunity to sort out best practices suited to your organization, with expert guidance. Board of directors training puts you in touch with the latest best practice research and offers evaluation of best practice boards. A good board training program should develop broad-spectrum insights into corporate governance best practices - and how these can improve coherence in business direction and strategy, drive corporate responsibility, and improve company accountability for stakeholder confidence.
Expect to come away with concrete action plans
In an interactive board of directors training program from a top business school, learning about high performing boards is not a theoretical exercise. The end-goal needs to be using that knowledge to develop action plans to address your own board challenges. In quality board of directors training programs, business school faculty work with you to synthesize learning and develop action plans so your learning can be expanded to your entire board. These concrete action plans will ensure long-lasting high performance thanks to board of directors training.