A board composition matrix identifies the skills, knowledge, experience and capabilities desired by a board to enable it to meet both the current and future challenges of the entity.
The creation of a board skills matrix is an opportunity for considered reflection and productive discussion on how the board of directors is constituted currently and also how it believes it should best be constituted in the future to align with the strategic objectives of the entity. The board skills matrix should always be tailored to the unique circumstances and requirements of the company concerned.
While developing your matrix, the trick is to focus on actions needed. Consider what people will do rather than what people are. This can be done by asking two questions:
a) What are the three most important things for our board to accomplish this year?
b) Do we have the right people on the board to make those happen?
Our next installment of the board composition matrix mini-series welcomes Francesca Ecsery to the discussion. Francesca primarily has experience as a Non-Executive Director working for over 30 years with start-ups in the digital and retail industries. She is an expert in consumer marketing, branding, and commercial strategies which deliver growth and profits.
In today’s episode, Francesca helps us analyze the challenges faced on the board of a start-up. She discusses her roles and experiences as a Board Executive and what skillsets she’s leveraged most in her experience. She helps familiarize us with the dynamic of a start-up board, how it differs from the boards of established companies, and what skills / techniques are vital to guarantee the success of a start-up. We discuss these topics and more on this episode of Boardroom Bound.
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