Board decision papers are a vital instrument for directors to make informed decisions. They are written to provide the information and analysis https://boardroomofficial.com/what-do-you-think-about-virtual-board-meeting-software/ required by a board to review and accept any proposed decision. They can be used to discuss major capital investments and subsequent revenue implications, acquisitions/dispositions, introducing new services or changing existing ones, organisational structure changes, budgetary decisions, granting contracts or joint ventures etc.
The best board papers start with the purpose they are intended for, whether it is for information or for discussion. They also provide the recommendations of the board. The document should include an outline of the issue, an executive summary (ideally less than one paragraph or four lines), and a detailed explanation, including strategy, financial information and risks. The paper should also include an overview of the alternatives and the reasons why the solution proposed is the most appropriate for the organization.
Several board development experts and chairs we talked to recommended that executive teams adopt a decision-focussed format for their documents. The headings of the document should reflect the decision that needs to be taken, instead of being arranged according to thematic. This helps boards to make decisions more effectively and forces them to think about how they might approach each issue.
When you write your board papers Be sure to edit the content until you are satisfied that it is succinct and clear. It is beneficial to read your draft again the next morning after a good night’s sleep.