corporate governance

What Does Good Corporate Governance Look Like?

It’s easy to talk about strengthening your board of directors, but how do you know when you’ve reached a high-functioning level of corporate governance?

In this day and age, building and maintaining a successful board means checking off many different boxes. As the role of the corporate director continues to expand and technology keeps leaping forward, board members should take the time to reflect on their impact as individuals and as a group.

Here are some signs that your board is thriving:

Directors have a firm understanding of their responsibilities

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board software communication

Board Software Communication Vs. Emailing Board Documents

These days, most boards are making the choice to go paperless. While some opt for centralized communication through the use of board software, others have simply stuck to email for their needs.

In fact, according to a 2014 Thomson-Reuters study, approximately 43% of boards were still emailing their sensitive board documents.

While email prevents added costs to board operations, it also poses many potential downfalls and risks.

Email isn’t secure.

You’ve seen the headlines. Email hacks are a dime a dozen these days. Not long ago, we wrote a blog about the infamous Salesforce leak, which originated with an email from Colin Powell.

Because they sent their board documents via email, their hypothetical plans for 14 different company acquisitions became public knowledge.

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