Questions to Ask Before Joining a Board

As a board consultant, I have been told a number of stories from first-time directors who gained a board seat only to discover troubling issues after accepting the board position. The single most important task before you join a board is due diligence. Instead of merely examining the rewards of board service, a board candidate also needs to explore both the risks and rewards. In a world marked by disruptive forces, sharp scrutiny, and tighter board accountability, wise director candidates are asking more questions. Whether you are considering a for-profit, non-profit, government, or advisory board seat, examining both the risks and rewards in a systematic fashion sets the groundwork for a thoughtful career move. Not everything that glitters is gold! When I read this week that Morgan Stanley says it will launch a portfolio that will invest only in companies that have at least three women on the board, I wanted to point director candidates to a source that provides step-by-step instructions for the process of discovering important information about an organization - New Director Board Due Diligence - ($9.99).