Situation Assessment for Boards and Management

A situation assessment is an effective tool for creating a common understanding between the board and management and improving decision-making.

The assessment helps ensure that the board and management have a shared understanding of the company’s current situation, operating environment, risks and goals, and that decision-making supports the company’s strategy and success.

The assessment is particularly suitable for implementation during times of change, as part of the strategic process, or when problems arise in the board and management work.

A situation assessment:

• Provides the board and management team with a unified view of the company’s situation
• Identifies potentially different perspectives/assumptions among stakeholders
• Highlights management’s perspective on the board’s added value and support for management
• Opens up a joint discussion on strategy and its implementation resources
• Brings corporate culture and customer relationships more strongly onto the board’s agenda
• Helps identify areas where the board or management may need additional expertise
• Provides recommendations for development measures
• Enables a comparison of responses and assessment of how the situation has evolved from one assessment to another
• Brings in the views of an external, neutral expert on the situation of the board, management and company

IMPLEMENTATION AND CONTENT OF THE ASSESSMENT

A situation assessment includes an online survey, interviews conducted by Boardman’s experts, and reporting sessions of the results.

Situation assessments are available in both Finnish and English.

Online survey

In a situation assessment, the company’s board and management form their own view of the overall situation of the company and the work of the board and management by responding to an online survey through separate links. The answers of the board and management are analyzed separately, revealing the consistency of views and any differences.

The online survey included in the situation assessment for private companies is comprehensive and divided into seven areas, including both declarative and open-ended questions. The topic of board work is the most extensive and serves as a self-evaluation in itself.

Topics assessed in the online survey:

• Corporate culture and personnel
• Strategy
• Customers
• Products and services
• Finance
• Board work
• Leadership

Interviews

Following the online survey, interviews are conducted. The interviews are confidential and involve a minimum of the Chairman of the Board and the CEO, but often all members of the Board and Management Team participate. Representatives of the owner(s) can also be included in the interviews.

Reporting session

Finally, a Boardman expert presents and explains the results of the assessment and presents the conclusions to the board meeting or a separately agreed session. This provides the company with concrete recommendations on how to develop the work of the board and management.