Executive Summaries for Board Engagement
Effective corporate governance relies on clear communication and informed decision making. A concise executive summary from management plays a crucial role in facilitating board effectiveness.
An executive summary provides a condensed version of a board report, extracting key issues and insights and recommendations from management. It should preface all board reports and provide a snapshot of areas that require immediate attention of the directors.
Consider this:
An executive summary has an explanation of why the board needs to know about it and what the issue is. The overview provides the details and information about the matter and the call to action recommends what the options are for the board to decide on.
It is a good tool to make best use of the boards time and get good quality decisions made. Naturally, it does not replace the need for the full board reports to be read later, just to highlight the key issues needing decisions.
Board and management should discuss the concept of executive summaries to use and agree on the format, for board effectiveness.
Remember if I can be of any help to your business simply email at info@tappadvisory.com.au or ring me on 0411111588 and I will be happy to assist, at no cost to you.
Warren Tapp
Tapp Advisory, Business Consulting Gold Coast.
Business Profits Made Easy.
Resources from the Tapp Advisory Store:
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Board Basics – Hard Copy – A simple introduction to the roles and responsibilities of Directors on Boards. It is a non- technical book you can use as a handy reference guide if you report to a Board, or you are appointed to one in Australia. It is a 68- page paperback.
Questions for Company Directors – Hard Copy
The book ‘Questions for Company Directors’ is a simple handbook to inform directors about the questions they need to put to management as part of their oversight role.
Directors should keep this book handy at all times – and keep asking those questions!
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