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How should a board of directors be spending its time and energy? When I serve on boards, I make sure there is plenty of room on our agendas to regularly spend time on four key topics: finance, people, strategy, and risk. I refer to these collectively as The Savvy Directorâs Focus.
Board directors donât need to be experts in these areas, but we should all have at least a basic understanding of them. And so, todayâs blog focuses on what a board director needs to know about risk.
For many of ...
Stakeholders are persons or groups with an interest in an organization who can affect or be affected by its decisions and activities. Given whatâs happening in our world, it should be no surprise that the idea that organizations should be accountable to a broad base of stakeholders has gained traction, pushing the topic of stakeholder engagement to the top of many board agendas.
After all, our organizations donât exist in isolation. They are influenced by the same forces of change that weâre ...
In a time of rapid change, itâs vital for boards to ensure they have a vibrant team with the right mix of knowledge and skills to keep moving the organization forward.
But many boards find they donât have the right processes in place to keep their membership fresh and relevant. And boards can find that their quest for renewal is blocked by a shortage of vacant seats, as sometimes directors stay on the board for a very long time.
When is long board tenure too long? What can boards do to encou...
There are days when itâs just not obvious what the subject of the next weekly Savvy Director blog should be. So, we happily welcome reader suggestions.
A couple of weeks ago, Jim sent an email with a link to an article from The Globe and Mail, âIntroverts, time to add some extrovert skills into your repertoire.â The gist of the article is that, to be effective, introvert leaders sometimes need to act like extroverts.
Jimâs comment was, âInteresting article. You may wish to write about introv...
You know the old saying ⊠âOne bad apple spoils the bunch.â
According to Merriam-Webster, when we use the phrase âbad appleâ to refer to a person, we mean âsomeone who creates problems or causes trouble for others; specifically: a member of a group whose behavior reflects poorly on or negatively affects or influences the remainder of the group.â
Oddly enough, over time, the concept has been used to describe the opposite situation. In recent times, we quite often hear that âa few bad applesâ ...
A board of directors is often faced with making a decision that has ethical dimensions. This is not a new phenomenon â itâs always been this way.
But in our current environment â one that features intense stakeholder scrutiny of governance practices, heightened expectations around organizational activities, and seemingly limitless opportunities to make a âwrongâ decision instead of a ârightâ one â itâs more important than ever that boards have access to skills and tools that enable them to ma...
For years, strategic planning exercises have started with articulating an organizationâs Mission, Vision and Values. But these days, it seems that organizations have to dig even deeper to find their Purpose.
Recently I watched the movie A Dogâs Purpose on Netflix. Itâs not a great movie, but I watched it for two reasons. First, Iâm a sucker for dog movies. Second, it was filmed in and around Winnipeg, my hometown. It was fun identifying where various scenes were shot. Isnât that 50âs diner Sk...
From time to time, a Savvy Director reader has asked me to write about governance in the non-profit sector.
We can all agree that non-profit organizations (NPOs) play a vital role in our society. They provide services in many different areas including health care, education, religion, social support, industry and professional programs, amateur sports, and fundraising for medical research and public awareness.
These days, NPOs, like all publicly accountable organizations, face numerous challe...
If youâre like most directors, the first thing you do when preparing for a board meeting is check out the agenda. You want to get a feel for what to expect from the upcoming meeting.
Sometimes the agenda makes a lot of sense. The focus of the meeting is clear. The list of items for discussion is reasonable. There are some interesting, meaty topics to dig into. You find yourself looking forward to the meeting.
But letâs face it, sometimes the agenda is a dogâs breakfast. Multiple items have b...
Without a doubt, âYouâre on muteâ was the most heard phrase during board meetings this past year. I encourage all directors and management people reading todayâs blog to stop and take a moment of self-reflection and congratulation for a job well done.
You did this. You managed to get through an entire year of virtual board and committee meetings where few had previously been held. Remember what it was like a year ago? Everyone was learning on the fly. Boa...
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