A well-crafted report from the board is a powerful tool for fostering collaboration, transparency and accountability and aiding in strategic alignment. However, many companies struggle with producing board reports that are timely and accurate. The consequences of poor presentation or lack of information is detrimental to the decision-making process and the growth of the business.
Be sure to only share the information that is necessary to get your board moving forward. This will avoid information overload and the need for lengthy explanations.
Begin with an executive summary or abstract, that gives high-level takeaways from the report. This helps board members quickly understand and absorb the report’s main points. This should be followed by your company’s key performance indicators (KPIs). Share specific data in relation to the goals and targets set for the last year and provide examples of how they have been achieved or are improving.
Include a section about trends and challenges in the industry. This is a great way to provide context to the financial information you provide and assist your board members understand, for instance the reasons your market shares have increased or decreased. If you’re facing significant regulatory hurdles be sure to mention this information in the report to help the board members to understand possible legal risks and their implications.
Last but not least, share your next step plan with the Discover More Here about ideals board portal review board. It’s up to them if this is a brand new project that needs their approval, or a revision of an existing plan.
