{"id":73955,"date":"2020-05-30t12:00:02","date_gmt":"2020-05-30t16:00:02","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=73955"},"modified":"2020-06-13t11:20:05","modified_gmt":"2020-06-13t15:20:05","slug":"an-effective-board-begins-with-an-effective-process","status":"publish","type":"post","link":"\/\/www.g005e.com\/2020\/05\/30\/an-effective-board-begins-with-an-effective-process\/","title":{"rendered":"an effective board begins with an effective process"},"content":{"rendered":"<p><strong><a href=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/10\/seniorbusinessman5others_a-31774-629.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-50439\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/10\/seniorbusinessman5others_a-31774-629-424x318.jpg\" alt=\"senior businessman with his team at office\" width=\"424\" height=\"318\" srcset=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/10\/seniorbusinessman5others_a-31774-629-424x318.jpg 424w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/10\/seniorbusinessman5others_a-31774-629.jpg 300w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/10\/seniorbusinessman5others_a-31774-629.jpg 600w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/10\/seniorbusinessman5others_a-31774-629.jpg 648w\" sizes=\"(max-width: 424px) 100vw, 424px\" \/><\/a><\/strong><\/p>\n<p><strong>decide what you need, then look for the right people.<br \/>\n<\/strong><\/p>\n<p><i>by steven e. sacks<\/i><\/p>\n<p>in discussing how to select your firm\u2019s board, the issue was that you want to have the proper board composition with the people, right values, philosophies and a shared commitment to the success of the firm.<\/p>\n<blockquote><p><b>more: <\/b><a href=\"\/\/www.g005e.com\/2020\/05\/23\/how-to-select-your-firms-board\/\">how to select your firm\u2019s board<\/a> | <a href=\"\/\/www.g005e.com\/2020\/05\/08\/confronting-leadership-not-such-a-bad-thing\/\">confronting leadership: not such a bad thing<\/a> | <a href=\"\/\/www.g005e.com\/2020\/04\/20\/opportunities-for-cpas-when-a-new-normal-arrives\/\">new opportunities for a \u2018new normal\u2019<\/a> | <a href=\"\/\/www.g005e.com\/2020\/04\/05\/is-trust-elusive\/\">is trust elusive?<\/a> | <a href=\"\/\/www.g005e.com\/2020\/03\/17\/4-practical-approaches-to-virtual-leadership\/\">working remotely shouldn\u2019t mean feeling isolated<\/a> | <a href=\"\/\/www.g005e.com\/2020\/02\/29\/how-engaged-are-your-employees\/\">how engaged are your employees?<\/a> | <a href=\"\/\/www.g005e.com\/2020\/02\/08\/managing-difficult-personalities-in-the-workplace\/\">managing difficult personalities in the workplace<\/a><br \/>\n<strong><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-49700\" src=\"http:\/\/4f2bur4nuye2cgakm2rm61qk.wpengine.netdna-cdn.com\/wp-content\/uploads\/2016\/08\/yellow_key_clip_art-e1375897299811-36p-hi-1-e1470686574894.jpg\" alt=\"goprocpa.com\" width=\"39\" height=\"16\" \/><span style=\"color: #b79c00;\">exclusively for pro members. <\/span><\/strong><span style=\"color: #b79c00;\"><a style=\"color: #b79c00;\" href=\"\/\/www.g005e.com\/wp-login.php?redirect_to=\/\/www.g005e.com\/2020\/05\/30\/an-effective-board-begins-with-an-effective-process\/\">log in here<\/a> or <a class=\"external\" style=\"color: #b79c00;\" href=\"http:\/\/goprocpa.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n<p>as a firm leader, a matter you think needs immediate attention could simply be a symptom of a larger problem. it\u2019s common sense that you would not visit your doctor to treat your broken leg with a band-aid, so why look for a fast, ineffective and incorrect solution as a way to fix an operational or cultural problem? this is why those who are on the board are selected for their acumen and belief in the why the firm or company exists and how it can be improved.<br \/>\n<!--more--><\/p>\n<blockquote><p>\u201cto succeed in business, to reach the top, an individual must know all it is possible to know about that business.\u201d<em> \u2013 <\/em>paul getty<\/p><\/blockquote>\n<p>if you want to ensure the firm\u2019s long-term success, here are a few suggestions:<\/p>\n<ul>\n<li>create a board operating manual that describes the duties, actions and responsibilities, and includes a formal section for a signature that confirms compliance. you can ask outside counsel for advice on such wording along with actions that can justifiably terminate the individual\u2019s place on the board for cause. some firms require regular attendance at board meetings, participation on at least one committee, and of course, completing an assignment required for a subsequent board meeting. otherwise, lack of attendance, progress and contribution renders the board useless.<\/li>\n<li>the board, while it may meet monthly or quarterly, should be thinking strategically year-round. this is especially true when there will be rotations giving rise to nominations. beyond member selection, the board should be responsible for orienting, supporting, training, mentoring and evaluating its members.<\/li>\n<li>assess the current board by looking at its size, diversity and creativity. consider what is necessary, such as specialized knowledge, skills, prior experience on boards (outside of the firm), business development skills and other important attributes. these attributes could change as the firm evolves over time, but likely they wouldn\u2019t change year to year. consider making this assessment every three or five years.<\/li>\n<li>in addition to an evaluation of the board composition, take a hard and deliberate look at what the board has too much of and too little of. this ties into the prior bullet point because you may be overlooking important elements that will help your firm become more competitive, as well as the potential to create initiatives that result in a better work environment.<\/li>\n<li>can we safely assume that all cpa firms have a strategic plan? let\u2019s not. if such a plan does not exist, it is important to create and connect a plan with the right board composition. the new board, using a fresh set of eyes and a new voice, will oversee and give final approval on the vision, mission, values and goals, as well as the short-, mid- and long-term strategies. at the same time, skills and expertise are identified and tracked \u2013 looking at the firm\u2019s future stars is a start. once the criteria are developed and consensus reached, the current and future board members will have the necessary information to facilitate the board operations in concert with the strategic plan.<\/li>\n<\/ul>\n<p>remember, you are building a foundation for the firm and not looking to stock the board with \u201cfavorites\u201d who may result in a future crisis of confidence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>decide what you need, then look for the right people.<\/strong><br \/>\n<em>by steven e. sacks<\/em><\/p>\n","protected":false},"author":1892,"featured_media":50100,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1363,1908,3120,3002,2266],"tags":[],"class_list":["post-73955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-management","category-pro-member-exclusive","category-special","category-partner"],"acf":[],"yoast_head":"<!-- this site is optimized with the yoast seo plugin v23.7 - 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