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What skills do board members need?
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What qualifications do you need to become a board member? There are many answers to this question but the qualities of a potential board member often outweigh formal qualifications or board directors courses.
- Strategic decision-making skills. This is certainly one of the top skills needed. As we saw, boards of directors need to make A LOT of important decisions.
- Analytical skills. An effective board can analyze data, identify patterns, and draw meaningful conclusions. In other words, current board members and future directors need great analytical skills.
- Adaptability. The board of all people must know how to adapt – and adapt quickly. So if you want to be a great asset within the board, you need to be able to adapt to all kinds of changes in the industry, economy, technology, etc… This way, the board can quickly come up with new strategies that follow the current times and trends.
- Accounting and financial literacy. Yes, the common board needs to know a thing or two about accounting and finance. This means you’ll have to be great at math.
Oct 29, 2019 · Board director qualifications range from CEO experience to deep knowledge of cyber security and data analytics. Regulatory experience for some and international and emerging...
- Patricia Lenkov
- Understand the board role and your objectives. Once you have verified that your employer allows you to serve on another company’s board, carefully consider whether you’re up for the demands of the role.
- Raise your visibility. Building your profile and broadening your network can benefit any professional, but these moves are particularly important for those wishing to be considered for a seat on a corporate board.
- Do your homework. Director hopefuls should conduct thorough due diligence on companies whose boards they would be interested in joining. You can investigate the organization’s operations, challenges, and opportunities by reading news and analyst reports and speaking with people who know the company well, including board members and senior managers.
- Make the interview a two-way conversation. By the time someone has approached you about a director opportunity, the nominating and governance committees have determined the criteria for the new board member, considered many people, and narrowed the list down to a few individuals.
Our trusted qualifications and training will build your knowledge, skills, and confidence and open the door to new career opportunities. Whether you are seeking to get to grips with governance or looking for a fast track to working as a board Director, we are here to help.
In this comprehensive guide, we’ll cover everything you need to know about common board member roles and responsibilities, including: What Are the Different Board Member Roles? The Most Important Board Member Responsibilities; Basic Board Member Duties
The Directors' Education and Accreditation Program is a short, intensive, and effective way for you to have a good insight into the role of a Board Director and provide you with knowledge of key areas related to that role.
