The Savvy Director Blog

Someone on LinkedIn said, “Good governance is like keeping the train on track.” I like that analogy as it runs parallel to the description of the CEO who ‘keeps the trains running on time.’

You need both good direction and good execution.

You also need the third phase of the board’s work – monitoring progress.

It may have been John and Miriam Carver who described the work of the board as:

1. Setting direction,
2. Delegating authority, and
3. Monitoring progress.
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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 Director’s Focus.

Board directors don’t need to be experts in these areas, but we should all have at least a basic understanding of them. And so, today’s blog focuses on what a board director needs to know about...

Stakeholders are persons or groups with an interest in an organization who can affect or be affected by its decisions and activities. Given what’s 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 don’t exist in isolation. They are influenced by the same forces of...

How can directors possibly know what is going on in the organizations they serve? After all, while management spends all their time immersed in operations and strategy, board members spend a comparatively small amount of time on their board duties and seldom step outside the boardroom.

That makes for a huge information gap.

As a board director, you’re pretty much completely dependent on management reports and presentations to best inform the discussion that’s needed to fulfill...

Virtual Board Meetings Post Pandemic

Without a doubt, “You’re on mute” was the most heard phrase during board meetings this past year. I encourage all directors and management people reading today’s 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...

As I worked my way through a lengthy quarterly report recently – complete with tables, charts, graphs, and color-coded dashboard indicators – it occurred to me that there was very little there that would help me to anticipate what might come next.

The report provided lots of detail about what had been accomplished over the past quarter, the past year, and the past several years. From reading the report, I knew exactly where we’ve been been and where we are right now....

The care and feeding of high performing board cultures has taken a hit these past months. This has been observed many times by any number of board directors in my network. I imagine you’ve heard the same comments.

Still, we should feel grateful for our near universal access to affordable virtual meeting software that makes it possible for us to meet in real time with actual faces in front of us and voices in our ears. Can you imagine the alternative experience if all those virtual...

We say it all the time – ‘Preparation is the key to success in the boardroom.’ That’s why we call our company DirectorPrep. That’s why our tagline is ‘Ready for your board meeting?’

And that’s why we developed the PREP Framework that provides individual directors with a consistent, repeatable process to prepare for board meetings. We want to support directors to be ready for their board meeting every time. (Visit the PREP for Success page on...

Lately, I’ve had a number of conversations with board directors who feel they lack a strong financial background. They’ve expressed concern about their organizations’ financial metrics during these times. Specifically, they were wondering, “What are the forward-looking numbers we should be paying attention to?”

Today’s blog post sets out to answer that question. As a non-financial director myself, I reached out to some of the savvy directors in our network...

We’re officially in the dog days of summer. I like summer. I like dogs. So bring on the dog days.

As the old song said, ‘Roll out those lazy, hazy, crazy days of summer, those days of soda and pretzels and beer.’

This part of the year has always been a time to relax, get away with the family (and the family dog), do some light reading, and generally not be bothered with what is going on in the world around us. This year, that’s exceptionally hard to do. Especially...