How top CEOs view their Board: Leadership lessons from the world’s best CEOs
The board can provide that perspective in moments of crisis as well as moments of opportunity when you’re thinking about that next S curve in your strategy.
Hey there, fellow leaders! Michael Barrick here, and I know that your time is valuable. You’re always looking for ways to streamline your processes and maximize productivity. But I want to challenge you – are you treating your board of directors as another obligation to minimize?
McKinsey’s global CEO Excellence practice co-leaders, Carolyn Dewar and Scott Keller, together with former Chair of McKinsey’s Americas region, Vik Malhotra, discuss leadership lessons from 67 CEOs of some of the world’s most successful companies in their upcoming book, CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest.
In a podcast episode for Inside the Strategy Room, the authors discuss what sets the best leaders apart and how others can emulate their practices and mindsets. They compare being a CEO to sailing on the high seas, where CEOs have to manage various elements simultaneously. They also emphasize the importance of resilience and humility as crucial traits of successful CEOs, grounded in the organization’s purpose and energy to navigate crises.
“Many CEOs think, How do I minimize my time spent on board meetings? Let’s make sure the board gets enough information, but not too much. That mindset stands in stark contrast to the perspective of the CEOs we spoke with who embraced the board as a valuable and trusted source of expertise. The board can provide that perspective in moments of crisis as well as moments of opportunity when you’re thinking about that next S curve in your strategy.” ~ Vik Malhotra:
Board Portal for CEO Excellence
CEOs and their board of directors must communicate effectively and efficiently to make strategic decisions that drive growth and success. However, traditional methods of communication, such as email, phone calls, and face-to-face meetings, can be time-consuming and sometimes ineffective. That’s where board portals come in.
A board portal is a secure online platform that enables board members and executives to collaborate, communicate, and access important documents and information in real time. Many top CEOs use board portals to streamline communication with their boards and enhance decision-making. Here are some of the ways they use this technology:
Real-time access to information
Board portals give CEOs and board members real-time access to critical information such as financial reports, board agendas, meeting minutes, and other important documents. With this technology, CEOs can easily share updates and insights with their boards, and board members can stay informed and provide feedback as needed.
Email can be inefficient in communicating with board members, especially when discussing sensitive information or making critical decisions. Board portals allow CEOs to communicate with their boards securely and efficiently, and all communication is stored in one central location. This makes it easier to track conversations, share information, and ensure everyone is on the same page.
Board portals provide a collaborative environment where CEOs and board members can collaborate on projects and tasks. For example, they can use the platform to review and edit documents, make comments, and assign tasks to one another. This helps streamline decision-making and ensures everyone is working towards the same goals.
Improved board meeting preparation
Preparing for board meetings can be time-consuming and challenging. Board portals can simplify this process by providing a centralized location for all meeting materials. CEOs can upload board documents in advance, and board members can access them anytime. This makes it easier for board members to review and prepare for meetings, resulting in more productive discussions and better decision-making.
Board portals offer enhanced security features to protect sensitive information. For example, they may require multi-factor authentication to access the platform, and all communication and documents are encrypted. This helps to protect against data breaches and ensures that confidential information remains secure.
In summary, board portals can help CEOs and their boards communicate more effectively, collaborate more efficiently, and make better decisions. By providing real-time access to information, simplifying communication, enhancing collaboration, improving board meeting preparation, and increasing security, board portals are essential for top CEOs in today’s business world.