Best Practices for Preparing Board Documents
Non classé / 9 juillet 2024
Board documents are a critical source of information that drives the major decisions that keep a business on track. A board member could be overwhelmed by too many details and this can result in poor decision-making. However boards with too little information may miss important insights or lose control of their business. To avoid this, board members should have access to thorough and accurate information that is easy to digest and well-organized. This article will provide best practices for writing effective board documents which comply with these requirements.
Effective board papers include the most current and pertinent information that directly impacts the strategic decisions at hand. They are short and simple, using formal business writing and avoid jargon or technical terms. Boards are made up of diverse backgrounds, so information should be tailored to each directors needs. For instance, marketing terminology isn’t relevant for finance professionals and vice for vice versa. When you’re creating documents for boards ensure that you include an alphabetical list of terms for specific words or acronyms to ensure clarity for all users.
The board should also establish its own standards and guidelines for preparing documents. This includes using an outline template and preferred choices for fonts, as well as the creation of an appendix sharing sources or providing additional details. The board must also establish the rules for a meeting’s quorum, and the number of directors needed to be present at the. This will ensure that all directors are able to be heard and participate.
Boards should distribute board meeting materials ahead of time so that directors have ample time go through them prior to the meeting. A week is a great time frame to allow directors plenty of time to study and prepare for the meeting.