A well-crafted board report is a powerful tool that strengthens collaboration, fosters transparency and accountability, and aids in strategic alignment. Many organizations struggle with producing board reports that are timely and accurate. Whether the problem is a lack of structure, inadequate data, or a lack of presentation, the impact is negative to decision-making and growth.
Be sure to only share the details that are necessary to help move your board forward. This will help avoid information overload and the need for long explanations.
Start with an executive summary, or abstract, which provides some of the key takeaways from the report. This will help board members quickly understand and absorb the report’s most important points. This should be followed by your company’s key performance indicators (KPIs). Share specific data within the context of goals and targets that were set last year, and highlight the progress made.
Include a section about trends and challenges in the industry. This is an excellent method to explain the context of the financial information you are giving board members and help them comprehend the reasons behind why your market share grew or decreased, for example. Include any significant regulatory hurdles in your report, so that board members can evaluate the potential legal risks.
Discuss your next step strategy with the board. It does not matter if the plan Learn More Here about boardable board portal review is an entirely new idea that requires approval from them or a reevaluation of an existing project.