COMMUNICATIONS & STRATEGY

3. Board of Directors Growing with Management Team

A large regional member association was a leader in its industry in number and engagement of members, as well as financial sustainability. The management team was poised to leverage its advantages of strong infrastructure and available capital for rapid growth, perhaps through acquisitions. The Board of Directors had experience in supporting the management team while it was maintaining a well-run organization, yet with this expanding future, the Board felt they needed to grow in understanding 1) their increasing responsibilities, 2) their role in mergers and acquisitions, and 3) how to effectively partner with the management team during this time of rapid growth.

Results

Pathwise Partners worked with the Board members as they took steps they have never taken before and helped them understand the responsibilities and contributions they make as leaders. As a result, the Board members:

• are having candid and appropriate communications among themselves and their membership to prepare for all possible opportunities
• are asking strategic questions and challenging the management team in evaluating all possibilities, becoming strong partners with the CEO in reviewing opportunities
• have instituted a strong new board member orientation that focuses the newly elected board members on their strategic and fiduciary obligations