Board room training is a type of training that helps both new and seasoned board members to understand the complexities of being on a board. Most of the time, the best method to understand these details is from seasoned board members who are willing to share their expertise. These training sessions could be mentorship-based or formalized education programs on board governance.
Boards are accountable for taking large-scale decisions that affect the direction of a business as well as fulfilling their fiduciary duties as corporate trustees on behalf of investors. They must also ensure that the assets of the company are handled in a way that is in compliance with industry standards. They do this by meeting regularly in a boardroom, where they discuss the most urgent issues facing the company and determine how to handle them.
Getting on a board can be a significant step in the career of an executive however, it’s not easy. Board members need to be prepared to handle difficult situations and to keep their promises to the stakeholders. This is why training for boardrooms is so crucial.
In-boardroom training sessions enable board members to freely discuss governance and leadership issues as well as requirements specific to their businesses in a confidential, no-holds-barred forum. NACD offers these customized training and advice sessions, facilitated by directors and experts in the field. They can be customized to address the inner workings and complex dynamics of each individual board. In addition to encouraging engagement and development of board members they ensure the highest level of professional integrity in the boardroom.