Australian Governance Academy
I was interviewed by Renata Bernarde , change agent and talent champion, as she explored what was required for a successful Board Director career.
We explored the many board career myths and shared tips and ways in which to be more effective as a Board Director.
Key amongst these are:
* your board career should be towards the end of your professional career
* don't leave your professional career too soon to start a board career
* to be an effective board director requires amassing a variety of business skills
* be strategic and start networking early
* be prepared - serendipity is the planning meeting the opportunity
The full interview can be found at the following link ....
A board director has amassed a variety of skills throughout their career to set them up for success when they join a board.
A board has four key roles to perform which require complex competencies:
* Ability to select the appropriate strategy for the business and manage the opportunities and risks associated with this.
* Selection of the appropriate CEO to deliver the strategy and monitor and support them.
* Ensure that the organisation is fully compliant and able to monitor this
* Fiduciary duty to act in the best interests of the shareholders, acknowledging the other stakeholder needs, and adding value in accordance with community standards.
A mastery of these, not only supports the best outcomes for the board, but also protects the board director from their greatest risk, that of reputational damage.
Our programs provide the underpinning of these with ongoing support from the Academy facilitators to help give some mastery of them.
As a board director you are sitting at the apex of an organisation. To guide and keep this organisation safe, a board director needs to have amassed a variety of skills.
* a full understanding of how business works
* clarity on the business model of the organisation and the influences on it
* how to set and deliver strategy
* evaluation and management of the risks and opportunities
* an understanding of the industry and global impacts
These skills take time to develop and are both, theoretical and intuitive, born of the experience of application.
They say it takes 10,000 hours to master a skill and each of the above skills are a complex tapestry of underpinning skills.
A governance program can give you the underpinning skills to practice in your workplaces.