Deloitte’s Chief Executive Program published a paper yesterday on “Seven steps to a more strategic board.” Its insights are well worth reading. They did, however, bury the lead. The seven steps add up to the importance of CEOs taking a leadership role in managing boards and building relationships rooted in “mutual respect, trust and support.” That’s the lead.
Deloitte’s Seven Steps:
- CEOs, it’s really up to you – Take an active role in board management.
- Be fearlessly transparent – Be open and humble.
- Take advantage of tension – Grow through debate.
- Facilitate the board experience, not just the board meeting – Build relationships over time.
- Curate information, and then curate it again – Give enough, but not too much information.
- To chair or not to chair? Think about it very carefully – Choose your level of influence.
- Say your piece on board composition – Build the right board over time.
Relationships rooted in “mutual respect, trust, and support” don’t happen by mistake. They are built together, deliberately, and over time.