A board member who is successful is one who takes their responsibilities seriously and contributes in an effective way. They must be able to make difficult decisions, think strategically and to keep the bigger picture in their mind, while providing their own perspective based upon their personal experiences. A strong board will help the organization reach its goals and mission by providing guidance and supervision. They will be driven to see the organization flourish and not afraid to express their opinions.
While having a wide range of connections is crucial organisations should focus on attracting those who are deeply about the cause and are willing to commit their time. It is also important to ensure that your board members possess the required qualifications. According to Institutional Shareholder Services, the boards of Enron, Kmart, and the ailing retailer Warnaco all had members with a https://boardcontest.com/four-tips-to-make-you-a-successful-board-member/ range of financial expertise and skills–including former Stanford deans who are also accounting professors and an important Asian financier, and the former head of the U.S. government’s Commodity Futures Trading Commission. Yet these credentials weren’t enough to prevent the companies from going under.
Also regular attendance at meetings is frequently seen as a sign of good board members. As Stanford GSB adjunct faculty of corporate governance Nell Minow explains, this method does not differentiate between boards that are good or bad. In fact attendance records for the boards of GE (which was listed on Fortune’s list of 2001’s most popular companies) and WorldCom show little difference.