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5 Challenges Faced by Board Directors

Board Directors are at the heart of any business. They provide the oversight and direction that CEOs need to run their businesses efficiently for their stakeholders. It is a great privilege and for those who want to make a contribution to the world, it can be a rewarding time. It tests your leadership skills and requires you to step out of your comfort zone, and allows you to form close bonds with fellow board members. It also reveals weaknesses that you weren’t aware of and teaches you how to tackle these weaknesses.

While the perks of sitting on a board are numerous however, there are a few significant challenges that almost every board has to deal with at some time. This article will examine five of the most frequently encountered challenges that Boards face and how they can overcome them.

1. New Non-Exec Directors

It is vital that non-executive directors joining a board of directors the first time, prepare themselves well. Historically, onboarding new board members was usually done by handing them a large stack of reading materials which contained all they needed to be aware of the company and the board.

It is important to engage with them individually it is important to do so because companies are changing rapidly and many non-executive directors have diverse background. This can be done via calls or video chat, a personalised LinkedIn message or even better, face to face. This will allow them to understand how they can bring value to their first board meeting, and establish relationships with other directors.

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