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 a corporate director certification program many years ago.

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 finan...

With increasing demands on governance professionals’ time, they’re always looking for  innovative solutions to help them support their boards more effectively. Could artificial intelligence (AI) be the answer?

“AI will have a significant impact on boardroom operations and governance. It’s an opportunity and a challenge that directors need to address proactively.” — Chris Ridd, BoardPro Chair

AI tools designed for board management can streamline processes, enhance accuracy, and provide i...

 

An effective corporate secretary or other governance professional is a great resource for any board of directors. They provide support and guidance to the board in carrying out its fiduciary duties, making sure that it operates within legal and ethical boundaries.

Among their many duties, they’re responsible for maintaining accurate records of board meetings, managing board communications, and ensuring compliance with governance policies and regulations. They help ensure the board has the i...

What should you do when trust has been damaged between you and other board members? Is there a way to recover? Are there differences in how men and women cultivate influence? What adjustments are needed if the board meeting is virtual? And what ethical considerations crop up when it comes to influence between meetings?

We left some of these questions unanswered in last week’s edition of The Savvy Director, ‘Cultivating Your Influence in the Boardroom.’ No worries - we’ll get caught up now wit...

Having influence in the boardroom gives you the ability to change hearts, minds, and behavior. It’s about using your words to share an idea or to move other people toward a position that you support. Make no mistake, being able to influence people is a difficult challenge that all leaders face.

And, as a member of a board of directors, you are one of those leaders.

In this context, we’re talking about the ability to influence your peers around the board table. If you’re new to the board, you...

As a board director, you’re probably familiar with the principles of ESG (Environmental, Social, and Governance). ESG has become increasingly important in the world, and at home, as organizations strive to align their values and practices with those of their stakeholders. Over the last while, ESG has evolved into the longer view of sustainability. It's important to understand what this evolution means for your company or non-profit.

“Sustainability” means meeting the needs of the present wi...

If you’ve been reading The Savvy Director blog for a while, then you know that, at DirectorPrep, we are obsessed with questions.

One reason for that is because asking questions helps us to fulfill our fiduciary duty as board directors. Through our questions, we inform ourselves about the subject matter at hand and satisfy ourselves about what is in the organization’s best interests.

Of equal importance, the right questions – asked in the right way at the right time – are a great tool to help...

Whether you’re a seasoned board director or you’re just beginning your governance journey, each time you step into the boardroom you’ll encounter an invisible force that influences how decisions are made, how conflicts are resolved, and how the board steers the organization. That invisible force is the board’s culture.

Board culture is about more than policies and procedures. It’s about collaboration, mutual respect, and communication. When board culture is positive. it leads to a cohesive an...

How much information is enough for a board to make a decision with impact?

The best boards can make decisions without perfect information. Waiting for perfect information often results in a missed opportunity. Analysis paralysis is a description applied to the inability to make a timely decision while waiting for more and more data. I’d like to suggest that it’s just an excuse to procrastinate. (I’ve been there.)

For board directors, the good news is they don’t have to make significant decis...

The board governance landscape continues to evolve around us, making the role of internal audit more important than ever. As a board director, whether the organization you serve is a large for-profit corporation or a local non-profit, internal audit’s insight and assurance is an indispensable resource to help you fulfill your role.

Essentially, internal audit serves as the board’s eyes and ears. It answers the key oversight question, “How do we know?” by providing an independent, objective as...