Board reports are an important aspect of the governance of any company. As a governing body the board is there to provide guidance and oversight, and to ensure that all areas of the business are going in the right direction. A well-written document is perfect way to prove this.
Board members have a lot of responsibilities and the time they allocate for meetings is valuable. It’s essential to make the most of their time, and to present a concise, easy-to-read report.
The report of the board should begin by presenting any key metrics that are relevant to the company’s goals and objectives. These may be financial metrics such as growth or profit, however they could also include more detailed information like new user sign-ups, hiring rates, patent applications or even product data. All of these should be placed within the context of your strategy, to ensure that the board can gain valuable insight into how your business is doing.
Then, you can discuss any projects coming up or changes that require the board’s approval or financial backing. This can be an excellent way to encourage the board to think about what’s coming up. Be sure to give an overview of the main points and the next steps. Also, be sure to be clear about any issues or risks that could arise.