How to Write a Well-Crafted Board Report

04 Nov How to Write a Well-Crafted Board Report

A well-written report from the board is an effective tool to encourage collaboration, transparency and accountability and facilitating strategic alignment. Many organizations struggle to produce board reports that are accurate and timely. If the issue is a lack of structure, insufficient information, or poor presentation, the consequences are detrimental to decision-making and company growth.

To make the most of your board member’s time, concentrate on sharing only the information necessary to get the needle moving forward. This will help avoid excessive information and the need https://justmatlab.com/ideals-board-portal-review/ for long explanations.

Start by preparing an executive summary or abstract, that provides high-level takeaways from the report. This lets board members quickly scan the report and grasp its most important elements. This should be followed by your company’s key performance indicators (KPIs). Share specific data within the context of the goals and objectives set for the last year and then highlight how they have been achieved or are in progress.

Include a section on trends and challenges in the industry. This is a great way to provide context for the financial information that you are sharing and help board members understand why your market share increased or decreased, for instance. Include any major regulatory obstacles in your report so that board members can evaluate the potential legal risk.

Tell your next-step strategy to the board. It doesn’t matter if this is an entirely new plan that requires approval from them or a reevaluation of an existing project.