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If your board is typical, thereâs time set aside in the board calendar to discuss strategy â at least I hope there is! Usually, thereâs an offsite strategic planning session every few years, maybe an annual board retreat that includes a strategy update, and hopefully there is time allocated on most meeting agendas to check in on progress against the strategic plan.
Over the years Iâve participated in quite a few strategic planning sessions. The board and senior management get together to deci...
When we join a board, whether or not we have prior experience as a director, we all hope to âhit the ground running.'
We want to make a difference sooner rather than later.
And our boards share that wish. They want to set up their new directors for success â feeling comfortable and able to make a contribution early on. Thatâs why many boards hold an orientation session â a few hours devoted to helping new directors get on their feet.
I set out to find out what a new director can do to ensur...
A week or so before a board meeting, savvy directors start their PREP work to make sure theyâll be ready to take an active part in the meeting and add real value to the boardâs discussions. Part of their PREP work is compiling a list of potential questions to ask â the kind of great questions that get to the heart of issues and help the board move forward.
The management team is probably thinking about questions too. What questions might they have for board members that will help draw out th...
In the last couple of weeks, DirectorPrep has released ChatDPQâą, our brand new AI-powered resource, custom-designed for board directors like you and me. Itâs a tool that provides easy, time-saving access to high-quality insights on anything to do with boards and board work. ChatDPQ replaces the DirectorPrep Questions App (DQA) and, just like the DQA, itâs available exclusively to DirectorPrep members.
I learned from DirectorPrep co-founder Dave Jaworski that ChatDPQ is built around Microsoftâ...
Does it sometimes feel as though you hear from the same few directors at every board meeting? What about all the others? Why do they stay silent? And more importantly, what can be done about it?
These days, many boards are consciously pursuing more diversity around the board table. The benefits include exposure to a variety of viewpoints, a range of experiences to draw on, and greater insight into stakeholdersâ concerns and perspectives. But board diversity wonât deliver on its promise unles...
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Accurate thinking is a process that helps us differentiate between relevant and irrelevant facts. Itâs an important skill to have whether weâre reviewing board materials, presentations, books, newspapers, or even when watching our favorite political news television channel.
The phrase was coined by success guru Napoleon Hill in the 1930âs. Iâm endlessly fascinated by the influence of Hillâs 17 Principles of Personal Achievement that have been read in multiple languages and adapted by thousan...
Every board of directors is looking for strategic thinkers. And if youâre working on your Board Value Proposition, youâll probably want to highlight your own skills in that area.
So, what exactly are we talking about when we refer to strategic thinking skills?
I searched in vain for a standard definition of the term âstrategic thinking,â but I found there really isnât one. Still, thereâs been a lot written about how important these skills are for decision-makers.
So, letâs explore the valu...
I frequently read these days that boards are spending too much time on oversight (which is typically described as a âcheck-the-boxes exerciseâ) and not enough on the future. While I agree that boards need to allow enough time for robust discussions of strategy, that doesnât mean that the responsibility for oversight can be ignored.
Overseeing corporate compliance may not be a topic that garners much attention, but it remains a key governance responsibility. Savvy Directors need to understand ...
This is the third of three articles on the topic of human capital. The first, Overseeing âOur Greatest Assetâ, dealt with the boardâs role in Human Capital Management and the second, The Talent-Savvy Board, dealt with Talent Management. In this article we explore the importance of organizational culture.
An organizationâs culture can make or break a brilliant strategy and build or damage the careers of experienced executives. A positive culture that aligns well with strategy can produce innov...
Board development is a process. Itâs designed to provide board members with training and support to enhance the skills and effectiveness of every director, no matter where they are on their governance journey.
With a good board development plan, the board collectively will do a better job at fulfilling its stewardship role.
That sounds straightforward enough. Yet, when I talk to some board directors and management teams about board training, they roll their eyes and I hear comments like, âW...
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