Board reports are an essential aspect of an organization’s management. As a governing body, the board’s role is to offer advice and oversight–and to ensure that all aspects of the business are moving in a positive direction. A well-written document is a ideal way to demonstrate this.
Board members have a lot of responsibilities and the time they allocate for meetings is precious. It’s essential to make the most of their time and present an organized, simple report.
To accomplish this, the report to the board should start by laying out any key metrics relevant to the company’s objectives and goals. These could be financials such as growth or profit, but they can also contain more detailed data like new user signups, hiring rates, patent applications or product Ibabs data. All of this should be presented within the context of the strategy to give your board with valuable insight into the performance of your business.
Then, move on to discuss any future projects or changes that will require board approval or financial backing. This is a great way to engage your board in thinking about the future. Make sure to provide a high-level overview and next steps, and be sure to be clear about any challenges or risks that could arise.
