The Savvy Director Blog

Ensuring that the annual operating budget is aligned with the strategic plan was one of my greatest takeaways when I was enduring ‘audit committee weekend’ as part of the corporate director certification program. LoL!

I learned that many of the best questions for management come from non-financial people like me around the board table. Why would that be?

While I believe the audit partners teaching that program module wanted to get the non-financial people excited about being on...

I’m happy to welcome back Alice Sayant as today’s guest blogger. Alice is a certified corporate director (ICD.D) and co-founder of DirectorPrep.com.

Alice’s thoughts on individual director evaluation

The boards that I serve on conduct regular board self evaluations. They often use confidential online surveys for this purpose, since they are a convenient tool for obtaining input from each director on the board. Analyzing the data obtained from this kind of survey can serve...

“How is it you would rather find the time to rewrite an ‘F’ grade paper for a better mark than to invest the right amount of time in the first place?” This comment was made by one of my university profs. A truer observation would be hard to find.

There is real power in preparing. Preparation is like prevention -- it reduces the potential for failure and the costs that go with it.

Where am I going with this? I’m glad you asked. 

Preparation is the Savvy...

Following last week’s blog post about conflict of interest, we received some excellent feedback from insightful readers who provided additional points for consideration. In response, we’ve decided to defer the post we had planned and instead produce a follow up.

Last week’s post was written for the director who wants to self-declare a potential conflict of interest. Today’s post will discuss undeclared conflicts of interest and the problems created between board...

Today’s edition of >> The Savvy Director™ << is focused on the challenges faced by a successful business person who is asked to serve on a government-sponsored agency, board or commission.

You might assume that the shift from a single bottom line (private for-profit) to a double bottom line (government revenue + social benefit) would be the most significant adjustment for the new director. You’re right. That’s part of it. The director’s role is...

Being on a governance board is like running a restaurant. Let’s say you are the original owner but now you have other investors.  You’ve hired a renowned chef to run the kitchen. If you keep going back there and adding salt to the soup, you will be looking for a new chef before you know it. You know what I mean? On the board, you represent the owners' interests. It’s time to get out of the kitchen and leave the cooking to the pros.

You may have started the business as...

Have you ever returned home or back to the office from a board meeting and asked yourself, “Why did I say that?”

Me too. In fact, it happened a couple of weeks ago and it wasn’t the first time. But the frequency has gone down considerably since I’ve discovered and put to good use the acronym W.A.I.T. (Why Am I Talking?).

As we’ve noted in earlier blog posts, the art of asking questions includes waiting for the right time to contribute. And contribute you will...

Robert’s Rules of Order? I’m not a big fan of Robert’s Rules. Who is this guy Robert anyway? Who made him king?

Okay, you’re right, my tongue is planted firmly in cheek. Boards do need to have a way of conducting their meetings and making group decisions. Robert’s Rules provide that framework.

That said, an overly strict adherence to the parliamentary procedures outlined in Robert’s Rules of Order can really be a buzzkill at board meetings. I’ve seen...

I’m happy to welcome back Alice Sayant as today’s guest blogger. Alice is a certified corporate director (ICD.D) and co-founder of DirectorPrep.com.

Alice’s thoughts on board orientation

Lately, my guilty pleasure is binge-watching old episodes of Friends on Netflix. Something that happened in the first season prompted me to think about board orientation for new directors.

I know, I know. It’s quite a stretch to compare the characters in a 1990’s sitcom to board...

Remember that feeling just before walking into your first board meeting? That combination of excitement and trepidation? You were wondering what you had got yourself into. But you couldn’t wait to make your mark.

But maybe that feeling has changed. Let's say you’ve been sitting on the board for a while. But now, instead of feeling excited and energized, eager to add value and make a difference, maybe you have a sinking feeling before your board meeting. Maybe you are not...