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As boards add new directors, they are increasingly struggling to find the right balance among their current structures and maintaining a healthy board culture. The right first step is assessing whether the basic structure is still fit for purpose.
Even before the COVID-19 pandemic, boards were facing a daunting mix of challenges that highlighted weaknesses in many traditional practices. To be fit for the future, boards must focus on their purpose, composition, and culture.
Most boards don’t take the time to step back and rigorously review their own performance. Doing so will benefit not only the board but the organization as well.