Microboards : what are they and how do they work?

Traditional company boards are a well-recognized feature of management in most types of modern organization. Boards have a number of key roles to play: setting strategic goals and directions; hiring and performance managing executive officers; ensuring legal compliance in all aspects of the business; assisting the senior management team; identifying and mitigating risks; ensuring that sound financial practices are used; and numerous other tasks necessary for good governance and effective oversight. But can using a team of skilled directors also produce benefits in other contexts: We believe that they can and would like you to meet the microboard – an application of boardroom principles designed to produce results for individuals rather than companies. This paper describes the history of microboards and discusses the key concepts and features that underpin their operation. We describe how microboards have proved to be effective for individuals whose lives are directly affected by disability, especially in Canada. Finally, we examine how microboard principles and practices might also be applied to emerging entrepreneurs and small-business operators.