Building Better Boards

According to Nadler in the HBR of May 2004, boards know what they ought to be: seats of challenge and inquiry that add value without meddling and make CEOs more effective but not all-powerful. A board can reach that goal only if it functions as a high-performance team, one that is competent, coordinated, collegial, and focused on an unambiguous goal. Such entities must be constructed. Do you agree with Nadler that an ambitious board-building process, devised and endorsed both by directors and by management, can potentially turn a good board into a great one?