A board evaluation combines quantitative information, international best practices and board member opinions to create a comprehensive picture of board performance. It also serves as a platform to engage board members in the creation of a board improvement plan, to ensure board members have the resources they need to more easily and effectively fulfil their roles.
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Improving the effectiveness of the board is a priority for leading organisations everywhere and is of particular importance when it comes to assessing the effectiveness and strategy of a board and its directors/members. The process also sends a positive signal, both internally and externally, that an organisation’s board members are committed to best practice.
GCC BDI has extensive experience in delivering top quality board evaluations for organisations across the GCC and has developed a proprietary tool to assist in the process. With over 15 years of experience in conducting board evaluations across the GCC, as well as an unrivalled knowledge of best practice in board effectiveness both internationally and locally, we are the leading regional entity when it comes to the delivery of simultaneously customized and exhaustive board evaluations.
GCC BDI draws on the expertise and knowledge of a large pool of top local, regional, and international evaluators (including from our partners McKinsey & Company, PwC, Allen & Overy and Heidrick & Struggles where appropriate), matching their areas of expertise to our clients’ needs. In this way, we provide a mix of best international practice and actual board experience, combined with our specialist knowledge and experience of corporate governance and director issues in the Gulf.
GCC BDI framework for board effectiveness
As a non-profit organisation, the promotion of professional directorship and board effectiveness across the region is GCC BDI’s core mission. This mission drives the eight dimensions of board effectiveness used by GCC BDI in our evaluation process, where each dimension represents a critical component that define an effective board.
We offer two styles of board evaluations:
1. Short external board evaluation
This constitutes an online confidential survey and a report with recommendations.
2. Longform external board evaluation – recommended once every 3 years
This constitutes the following, and can be held either online or with in-person elements:
- An online confidential survey
- A review of all key corporate governance documents
- One to one interviews with all those surveyed
- A report and recommendations
- An action plan
For those organisations who are new to board evaluations, we can also offer a phased process over a three-year period to get a board prepared for a full evaluation in the third year.
Benchmarking and Comparability
The results of the survey are benchmarked against the GCC BDI regional board effectiveness index – a database of all the results from board evaluations conducted to date with GCC companies. This benchmark enables your board to compare and contrast its effectiveness with other GCC companies, as well as best international practices.
If you are interested in commissioning a board evaluation or discussing the available options, please contact us at getinvolved@gccbdi.org or call us on +971 4 554 7967 to learn more.