From discussing the company’s financial status to reviewing the marketing content, the board of directors tends to have the last say regarding the affairs of an organization. But every member tends to be busy with their other affairs, which is why they need to be up to speed. One way to do this is by presenting them with board reports.
If you ought to create one but do not know how, then this article will give you a set of samples and templates to slay every meeting that you’ll encounter.
A board report is a paper or electronic document handed out to members of an organization’s board before a meeting. Board reports are an essential tool in a business setting, especially if it requires collaboration and partnership. This summarizes a particular topic and gives its clear overview to the board of directors to inform every member and associate well toward success. Commonly, the board committees prepare these documents.
A well-made board report is vital as it allows the board to make the right decision. As mentioned in an article by Forbes, a board member’s priority must be the health of the business and the growth of its value. So whatever report it is, make sure to organize and write them well so that the board can take the right course of action for the organization they govern. To create a board report, here are some tips.
To make it easy for your readers who are the board members themselves, you have to organize the information you are reporting to them. Try to use a specific format or an infographic so that your reader can grasp the situation your report discusses. Try also to keep your report at least one page if the topic allows it.
Your writing to the board doesn’t mean you have to use high vocabulary words and jargon throughout your report. It is a lot more appreciated if you keep your content simple and straight to the point. That way, your readers can understand right away what you are writing. Use certain terminology only when it is indispensable.
When writing a summary, stick to the main topic of the board report. It can be easy to go off-topic, so keep in mind the purpose of your board report. Provide a clear explanation of the situation so that you get your readers up to speed. Make your statements relevant to the topic so that the board members hang on to everything you have written on the report.
The board report mustn’t have any typos or mistakes. Aside from turning your readers off, it could make them misunderstand the message. This will then lead to inconveniences that are avoidable in the first place. So take the time to fact check the statements you have written down and double-check for any errors.
Members of the board are usually the ones who have a managerial or vital role in the company. In a board meeting, the members present would be the CEO, executive directors, secretaries, the treasurer, and selected committee members.
Board meetings involve all kinds of stuff, and they vary depending on the nature of the company. It is usually about special projects and managing business operations. But it can also be specific such as security risks, for example.
A board report is the sharing of updates and information to the board of directors who lead an organization. An annual report is a disclosure of what a company did for the past year. It is given to the shareholders and stakeholders.
With the above-mentioned tips, you will be able to create a well-written board report. Whatever agenda the board has, whether it is planning an annual event or an emergency meeting, will receive a proper orientation. This will help make the board meetings more productive and encourage them to make the right decisions.