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Today’s post is by David Jaworski, Principal Product Manager for Microsoft Teams and co-founder of DirectorPrep. Dave serves on the board of INEO Solutions (TSXV: INEO) as well as non-profit boards. He previously served on the Advisory Board of Payworks and the public board of PNI Digital Media which was acquired by Staples. [email protected] LinkedIn: https://linkedin.com/in/DaveJaworski
Thanks to ChatGPT for also...
You may find the term “business model” thrown around in the boardroom.
In this Savvy Director article, we’ll explore what it means, how it differs from strategy, and what the board’s role is, and what directors need to know to fulfill their role with respect to the organization’s business model.
And if the board you serve is in the non-profit sector, not to worry. There’s plenty here for you as well.
The term business...
We often hear from readers looking for ways to elevate their boardroom discussions to a more strategic level. That makes sense. Strategic discussions are more interesting, forward thinking, and robust than those that drill down into the minutiae of operations.
When the agenda and reading material don’t reflect the organization’s high level strategy - instead being filled with pages of execution detail and ‘busy work’ metrics - is it any wonder directors slow the...
Recently we re-published an earlier blog post, “What do I need to know about risk?” and shared The Savvy Director Guide to Risk with our subscribers as well as our network on LinkedIn.
Of course, there’s no way that a single blog post can cover the full breadth of a complex topic like risk. After all, there are entire books and courses of study devoted to the subject. Comments from some of our Savvy Director readers gave us great ideas for a follow-up blog on the topic.
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:
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...