What Is a Board Analysis?

A board analysis is a visual display, usually an enormous whiteboard, which is placed next to a process to show the actual performance and compare it to the expected performance. The board lets an organization assess its operational performance in terms of quantity and quality. It also lets managers identify and track any issues that arise during the work shift or day. The chart is an effective tool to reduce the amount of waste and increase efficiency, particularly for companies which have an extremely strict production schedule.

A common type of analysis of the board is to determine the types of backgrounds, abilities, and experience are required on the board to fulfill the strategic needs of the company. This can be difficult since it requires a thorough understanding of the present and future requirements of the business and a thorough evaluation of the effectiveness of the board in meeting those needs.

Another type of board assessment is to determine if the board is operating at a fiduciary-level, ensuring that directors are fulfilling their legal and financial obligations and acting in the best interest of the company. Only a thorough board evaluation can tell if a particular board is functioning at this level. However there are many boards who struggle to implement a board evaluation process.

Another option is to use an online platform for boards that offers pre-built assessment templates crafted by experts in governance. It also collects feedback anonymously to gain insight into the performance of the board, based on candor and authenticity. These platforms can also reduce expenses, since they remove the need for paper surveys and binders.