A well-crafted report from the board is an effective instrument to foster transparency, collaboration and accountability and facilitating strategic alignment. However, many organizations have difficulty producing board reports that are precise and timely. The impact of poor presentation or insufficient information can be detrimental to the decision-making process as well as the growth of the business.
Concentrate on sharing only the information that is necessary to help move your board forward. This will prevent information overload and the need for lengthy explanations.
Begin with a summary or abstract that summarizes the main points of the report. This will help board members quickly scan and grasp the report’s main points. Make sure to follow this up with your company’s key performance indicators (KPIs). Share specific data within the context of goals and targets that were set last year, and show the progress made.
Include a section on trends and challenges in the industry. This is a fantastic opportunity to explain the financial information you share and assist your board members understand, for example the reasons your market shares were either increased or decreased. Include any significant regulatory hurdles in your report so that board members can assess the legal implications.
Share your next-step go to my site justmatlab.com/best-board-report-format-guide/ plan with the board. If it’s a new initiative that requires their approval, or a re-evaluation of an existing plan.
