From good to great boards

LAST week's article ("Assembling a good board", Nov 21) examined how to go about constructing a good board, a job that may possibly be the most mission critical factor in the long-term success or failure of a company.

But that should only be the start. How the board functions and works, and how individual board members adjust to board culture, are equally important for it to be a truly good board. Every board, even good ones, should work towards becoming great. In that sense, great boards are always a work-in-progress. Among the measures that great boards continually work on are:

Fit for purpose

No single board can be the right fit for every company and situation all of the time. Boards should be "fit for purpose" - meaning that the directors…