The article provides examples from NASA (HST), Volkswagen this link grbestpractices.org/protecting-customer-data-and-gdpr-compliance/ and Wirecard to show how boards can miss the early warning signs that could lead to a risk. The article emphasizes the importance of recognizing early warning signs and acting on the warning signs. This can be accomplished by an organized board review process, which helps boards evaluate their own performance and effectiveness.

The authors emphasize the need for boards to evaluate their own performance, and the performance of the entire company, in order to discover gaps and opportunities to improve. In addition, they emphasise the importance of using the expertise of consultants outside to ensure that the board’s agenda is complete.

A board room review is an evaluation of the effectiveness of the board of directors as compared to the ideal requirements for the business. It could be an internal evaluation with a world-class benchmarked tool, such as those from Board Surveys, or a unique external assessment that is specific to the needs and requirements of the business.

It is vital that the boardroom be an area where members are able to be honest and open. They must be able focus on the task at hand without being interrupted or distracted, and should feel at ease when discussing sensitive issues. A conference room that is equipped with large tables and chairs, a soundproofing space to ensure conversations are private and a high-tech equipment such as Bloomberg plug-ins, or the latest quotation systems can aid. A virtual meeting room permits participants to participate in meetings at their offices, at home or even on an airplane. This helps to make the process easier.