Define and Take Inventory
“First got the right people on the bus, the wrong people off the bus, and the right people in the right seats “.
The “right people” are those who come to the table possessing the competencies that are needed to support the organization in achieving its mission, vision and strategy and in acting in congruence with the organization’s values. Competencies can mean either the skills, attitudes or behaviors that are needed in directors. The “right people” are long-term and visionary thinkers, they insist on short-term results at the same time, and they are comfortable with the nuances of the financial reports. They understand the business model; sell their ideas through influencing others, and above all, they manage themselves impeccably. Additionally, the board needs individuals who bring specific competencies that are instrumental at a given stage of the organization’s development…e.g., people with insight into international markets, experience with complex mergers and acquisitions, people who have led organizations to the level to which this organization aspires.