The board of directors is central in a co-operative business. The directors need to be able to make good decisions to ensure the co-op remains healthy, and they should work to improve their knowledge of the business and how best to run it.
Understanding where a board is performing well and where it has shortcomings is important. It will help the board figure out what it can do to strengthen its ability to make good decisions. A great strategy for a board is to do an evaluation of its progress and capacity.
This is an exercise boards can use to evaluate themselves in a planning session with all directors or with an expert consultant.
On a scale of 1-5 (with 1 being ‘Very Poor’ and 5 being ‘Very Good’), rate the board’s performance on the following:
Identify the top three to five challenges, opportunities, or issues the board should work on right now:
Build on these three issues by filling out the following table:
For more information check out The Common Share podcast. Episodes 3 to 7 deal with different aspects of board governance:
Episode 3: Why we need governance
Episode 4: Getting people involved in board governance
Episode 5: Working board versus Policy board
Episode 6: Dealing with conflict on a board
Episode 7: The importance of board diversityWas this useful?
Need a business plan? Start here. The Biz Plan Creator is an easy-to-use and helpful tool. Designed to guide you through the process, the Biz Plan Creator offers a user-friendly platform and clear advice at every stage. Plus, it includes a secure account and customized branding of your plan. So, you can leave and come back to your plan as needed. And when you’re done, a branded PDF business plan ready for investors and financiers is your reward.