A maturity model for board management is a method used to evaluate how well your board of directors is managing itself. Its goal is to assist board members improve performance and help make the business more successful. The process typically involves a self-administered test, followed by a meeting with consultants who interpret the results. The majority of models employ a scale of three to five levels to evaluate different aspects of your board’s performance. The first level is characterized as spontaneous, lacking formal standards or alignment. The third and the second levels are more specific and include processes.
The most important feature of any maturity model is how it places a high priority on learning for your board. Knowing the maturity level of your board will help you decide what skills you need to learn next. Certain models offer generalized estimates on how long it will take to get to a higher level (e.g. “a level change will take about six months and an increase of 25% in productivity”).
The majority of boards start at the bottom of the maturity scale and are the ones that are reluctantly acquiescent who understand their responsibilities and personal exposure. They are reluctant to dedicate more time and resources than necessary to governance, since they are unable to focus on their primary tasks of managing.
They must be made to be aware that governing, is a distinct, distinct and a completely different job is not the same as executive management. It requires a completely separate level of professional development assessment, training, and funding. It’s a risky job that challenges your thinking and understanding, as well as the willingness to take calculated risks in the complex and interconnected world of politics and economics.