Board analysis is the process of reviewing the performance of data and identifying trends in company data. This helps boards focus on the matters that matter most in order to assist the company’s strategic plans.
Boards are increasingly focusing on culture, talent, and the management of risk. They are also taking an active approach to succession planning. This involves looking beyond C-suite executives and down to the lower levels of digital business, as well as to other positions that are crucial to the success of a business, such as customer service or security.
In the end, a company’s strategy will only be successful only if it is implemented by its employees. To refine this, a number of organizations are embracing new playbooks that can help them survive and thrive in times when economic projections are ambiguous or even extremely dire. Boards that adopt an active approach in this regard can help companies rethink their strategy and prepare for uncertainty.
The most effective boards have a chemistry of openness, trust and cooperation. They have a clear understanding of the company’s ecosystem, and are able to ask difficult questions to the management. They understand their responsibilities in a dynamic of shared ownership with all stakeholders and can collaborate to push for changes in corporate behavior that bring about change.
While the majority of boards are governed by two-tier structures that separate the management board from the supervisory board, multiple variations are found in different countries and ownership structures. No matter what the specifics are, most boards share similar overall tasks. Board BEAM enables users to easily create reports, graphs and self-service analysis that make use of K-means clusters, as well as other advanced functions like frequency recency, dormancy, and the nascency.