"​​An investment in knowledge pays the best interest."

Benjamin Franklin

Directors and Officers are having to navigate increasing volatility, uncertainty, complexity and ambiguity.  Often the skills, experiences and knowledge that brought us to these roles where gained in less turbulent times.

Research has shown that hubris is a key barrier of learning and development of Boards and, therefore, of the long-term survival of the organisations of which directors and trustees are custodians.   A key driver of poor Board decision making is often group psychology gone awry.

A key remedy for both of these Board challenges is continual learning both individually and as a group.   Great Board education brings Directors and Officers together in a collaborative environment to build on both 'hard' and 'soft' skills.  

The hard skills refers to the knowledge that can be introduced.  The soft skills refers to the collaboration and team-building opportunities great facilitators use to guide Directors and Officers through the learning process.

Some of the best education moments I have experienced have happened when Directors, executives, managers and staff worked together in a learning environment collaborating to build their collective understanding.  Other key benefits include: 

1. Staying Current - Every business is constantly evolving, as is it's operating environment. Continuing education helps keep everyone up to date.
2. Enhancing skills - Directors and Officers need a broad range of skills, from strategic thinking, risk and compliance management, financial literacy, managing conflict, developing culture and understanding supply chains.  These skills need to constantly evolve as organisations and societies understanding of them evolves.
3. Supporting Independence - Independent Directors are often there to provide unbiased oversight and challenge the executive team constructively.   Great team-building learning can support this by deepening trust and understanding how others around the Board table think, learn and explore ideas.  
4. Legal and Ethical Compliance - Directors and Officers must be aware of their legal and ethical responsibilities. Continuing education ensures they understand the latest governance standards and regulatory requirements, helping them uphold the highest ethical standards
5. Networking, Collaboration and team-building - ​Training programs can provide opportunities for Directors, executives and management to network, share experiences, learn from each other and deepen their understanding of each other.

How could we enhance your Boards skills? Reach out for an obligation free discussion.