Board Members Competency Assessment
Secure Investors & Provide Sustainability of Corporate Governance with Highly Competent Board Members Profile!
Reviewing performance of the board, including its structure and committees reporting to the board, is one of the corner stones of compliance to the corporate governance principles. The BOD is the organ that manages a company’s strategy starting from its vision and mission as well as being in charge of key risks management, actions to be taken for being prepared for crises and principles of the relationship with all its stakeholders; in short, the BOD manages sustainability of the company. Sustainability of a company can be summarized a company’s capacity to adapt to the global, macroeconomic, environmental and social trends related to sustainability as well as adapting to the related legal arrangements and changes. For a reliable sustainability practice, three pillars of sustainability, namely economic, social and environmental parameters, must be incorporated in all primary, strategic and operational processes and decision making mechanisms of the company.
The corporate governance principles and BOD performance in the eyes of investors are directly proportional to the profile and competencies of the Directors.
CGE Competency Assessment for the BOD evaluates the competencies of the BOD by considering its roles and responsibilities and supports continuous development of the member’s performance with a roadmap to the competence development of the members.
An effective assessment methodology, which assures continued development of the board’s organization in the light of the organization’s vision and mission as well as the external requirements, will guarantee corporate governance performance and function as an assurance in the eyes of the investors as well as guiding you in the process of determining member-based areas for improvement.
We suggest including professional external evaluators who have direct relationships with the BOD and Board members in the evaluation process. The methodology used for competency assessment of the Board Members is as follows:
- Self-assessment by the Member
- A Member be evaluated by other BOD members.
- Professionals working with the Member (external evaluators) will evaluate the Member.
As a result of these surveys, the following reports will be released:
- General Report on Competency Assessment of the BOD
- Member-based Competency Assessment Report.
If comments from the consultants are required, a general and individual roadmap will be also reported.