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Board documents are an important source of information to make crucial decisions that keep a business running smoothly. A member of the board can become overwhelmed by the amount of information available and this can result in poor decision-making. However a board that has too little information could miss crucial insight or risk losing control of their business. To avoid this, the board members must have access to reliable and complete information that is well-organized and easy to understand. This article offers best practices for writing effective documents for boards that comply with these requirements.
Effective board papers contain the most current and pertinent information that is productive board of directors directly related to the strategic decisions to be made. They are concise and clear, employing formal business writing and refraining from technical terms. Boards comprise diverse backgrounds, and therefore information should be tailored to each directors’ needs. For instance, marketing jargon isn’t applicable to finance professionals, and vice to the other. If you are creating documents for boards, be sure to include a glossary of any particular terms or acronyms. This will ensure that all readers can comprehend the document.
In addition the board should also establish its own internal guidelines and standards for preparing documents for the board. This includes using a template, choosing the fonts that are preferred and preparing an appendix that can share sources or provide additional information. The board should also establish guidelines for a quorum and the number of directors needed to hold a meeting, making sure that all directors participate and be heard.
Boards should distribute the documents for board meetings in advance so that they have enough time for directors to go through them prior to the meeting. A week is usually an ideal timeframe to ensure directors have ample opportunity to study the documents and prepare for the meeting.
