Please complete our board matrix valuation below after briefly reviewing this information.
A board matrix is a valuable tool for ensuring diversity, skills, and expertise within a board of directors. Here are key reasons why a board matrix is essential:
Skill Diversification: A board matrix helps identify the skills and expertise present among board members. It ensures a diverse range of competencies, including financial, legal, industry-specific, and leadership skills, fostering a well-rounded and effective board.
Strategic Alignment: The matrix assists in aligning the composition of the board with the organization’s strategic goals. By mapping the skills and experience needed for current and future challenges, the board can better contribute to the company’s success.
Governance and Compliance: Boards often require members with legal, regulatory, and governance expertise to ensure compliance with laws and regulations. A board matrix helps identify areas where expertise may be lacking, reducing legal and governance risks.
Risk Management: Diverse expertise, especially in risk management, is crucial for identifying and mitigating potential threats to the organization. A board matrix helps assess whether the board has the necessary skills to navigate various risks effectively.
Innovation and Adaptability: A well-constructed board matrix can facilitate innovation by ensuring that the board comprises individuals with diverse perspectives and experiences. This diversity enhances adaptability and the ability to address emerging challenges.
Succession Planning: By understanding the skills and backgrounds of current board members, a board matrix aids in succession planning. It identifies gaps and allows for proactive recruitment to ensure a smooth transition when board members retire or leave.
Stakeholder Representation: The matrix helps ensure representation from various stakeholder groups, including employees, customers, and shareholders. This inclusivity contributes to a more balanced decision-making process.
Accountability and Transparency: A board matrix promotes transparency by openly displaying the skills and backgrounds of board members. This transparency enhances accountability to stakeholders who can assess whether the board is adequately equipped to oversee the organization.
In summary, a board matrix is a strategic tool that enhances the effectiveness, diversity, and adaptability of a board of directors, ultimately contributing to the overall success and sustainability of the organization.
|Competency-Level Description (based on Experience/Qualifications)
|Not Applicable – 0
|Outside past range of direct experience
|Basic – 1
|I have some applied experience in this area through a combination of work, education, previous board experience, introductory director training
|I understand terminology and can identify skills and attributes associated with this competency
|Good – 2
|I understand the fundamentals of this competency as a result of my leadership roles at work or through board experience
|I have sufficient knowledge and experience to interpret and resolve routine issues in this area
|Strong – 3
|I have significant understanding of and expertise in the competency, gained through advanced leadership at work, on boards, and/or completion of advanced director training
|I have challenged management’s assumptions when needed, and I speak out appropriately at board meetings
|I contribute to board analysis, discussion, and debate on complex issues in this area
|I have made significant contributions to long-range planning in this area
|Expert – 4
|I have expert-level understanding of the competency, gained through an appropriate combination of successful working experience in a senior position or function; previous board experience; completion of a professional designation, qualification, or degree in this competency area; and completion and accreditation of a director training program
|I can lead board analysis, discussion, and debate on complex issues in this area
|I have proven success in mentoring colleagues or new directors in this competency
|I have interpreted complex data to contribute new knowledge in this competency area
|Governance / Board Leadership Experience
|Experience in corporate/non-profit/political governance. Capacity to ensure proper deliberations on all matters requiring the board’s attention. Demonstrated ability to provide cohesion of direction and purpose at a policy and strategic level.
|A specialized understanding of laws and regulations, enabling professionals to interpret and apply the legal framework in specific areas. Can play a crucial role in advising and guiding individuals or organizations to ensure legal compliance and address challenges effectively.
|Significant and successful entrepreneurial experience in start-up / high growth ventures. Maintains an extensive network with businesses and community organizations throughout NB and beyond. Considerable experience leading complex business situations. Has demonstrated an “opportunity orientation” – an approach that evaluates changes in trends, identifies niche markets, and seeks out opportunities to create or improve services and products. Possesses a combination of focal competencies such as innovation management, start-up financing, or international marketing and business development. Has past or current experience and knowledge related to applied research and innovation projects and/or programs
|Ability to read and understand basic financial statements, such as income statements and balance sheets.
|Comfartable and capabale of speaking in public. Example: Introduce/thank speaker
|An understanding of strategies and techniques for effectively promoting products, services, or ideas. Excel in crafting compelling messages, utilizing various channels, and engaging target audiences to build brand awareness and achieve communication goals.
|Enterprise Risk Management
|Mature understanding of the inherent risks in organizations, including reputational, financial and organizational implications. Ability to provide a knowledgeable perspective to the Board and staff regarding the integration of risk management within the organization’s planning, decision making and reporting mechanisms.
|Economic / Community Development
|Knowledge, skills and experience gained through serving as a business, organization, or community leader; mature leadership skills; recognition as a strategic thinker with successful outcomes that are respected and recognized beyond the sector in which the individual works and the region in which he/she lives; experience dealing with general business or community matters and considerable experience leading complex situations.
|Government Relations and Public Policy
|Experience and understanding regarding the structure and processes that drive the development, revision and/or approval of government legislation, regulations, public policy and allocation of government funds. Demonstrated success in advocating and collaborating with politicians, senior-level public servants and other key stakeholders regarding government policies and decisions.
|Demonstrated experience in a human resource capacity, which may include training, conflict resolution, relationship management, performance evaluations, workplace culture, coaching, building creative teams, organizational structure or hiring/dismissing.
|Equity Diversity Inclusion & Accesibility
|Understands and demonstrates the importance of diversity, equity, inclusion and in governing a successful contemporary organization.
|ESG (Environmental Social Governance) & Sustainability
|Familiarity with Environmental Social Governance and sustainability principles, which may include successfully implementing these principles in an organization.
Would you like to put your name forward for a position on the Chamber board of Director?
It’s an opportunity to hold a valuable and prestigious volunteer position but there are a few things to consider when making your decision. To qualify for this position of distinction, you must be a member of the Chamber in good standing. There are also responsibilities to review before making the commitment.
Knowing the Mission
Understanding the mission of the chamber, as well as its strategic initiatives, is important and will help you make decisions and speak more confidently to potential members.
Always Representing the Chamber
One of the other most significant Chamber Ambassador responsibilities is understanding that you always represent the chamber, which also applies to social media. Because you are a Chamber Ambassador, people may assume that when you speak in public you are speaking on behalf of the chamber.
Promote Chamber Events
Sharing our events with your networks will help us build attendance and networking opportunities. Your attendance as often as possible would be great as well.
Engage in our Social Media Posts
As an Ambassador, we ask that you follow, comment and share our social media posts to help expand our reach.
Recruiting New Members
While chamber staff recruits as well, recruitment efforts of Chamber Ambassadors are very effective. As Chamber Ambassadors are often successful, well-respected businesspeople, your reasons for joining the chamber are relevant and other businesses will want to hear those reasons.
It is important you understand the time commitment and attendance requirements before accepting the role. Ambassador committee meetings will be held quarterly. Other than those meetings and our Chamber events, you can expect to spend another hour or two per month fulfilling your duties.
Rewards of Serving
Our Chamber Ambassadors not only are the face of the Chamber, but they increase community recognition of themselves and their businesses. The opportunity for high-visibility networking will be beneficial in developing new business contacts and forming ties with other committee members.