In this article, we present a step-by-step governance approach to help boards foster a more contextually relevant—or, as we term it, agile—relationship with management that allows them to better perform their fiduciary duties and improves organizational outcomes. It is based on our analysis of 400 reports written by directors who have attended our governance education programs over the past decade. In the reports, directors assessed their board’s practices and overall effectiveness. We also interviewed and surveyed many other board members about their practices. Drawing on our research, we identified four modes of engagement—passive, mentor, partner, and control—along with the unique characteristics of each type and the combinations of engagement modes most likely to enhance board effectiveness. While boards differ in their practices to some extent, largely owing to variations in ownership structures, consistent patterns emerged across industries and geographies.