Best Practices for Preparing Board Documents
Board documents are an essential source of information that guides the key decisions that keep a business on the right track. The overload of information can overwhelm the board member and lead to ineffective decision-making. Likewise, too little information means that the board isn’t getting crucial insights or may lose control of the business. To avoid this, board members need access to thorough and accurate information that is easy to digest and well-organized. This article provides the best practices for drafting effective board documents which comply with these requirements.
Effective board papers include the most current and pertinent information that is directly related to the strategic decision to be made. They are short and simple, using formal business writing and refraining from technical terms. Boards have diverse backgrounds, and therefore information must be Board portal tailored to each directors’ needs. For instance, marketing jargon isn’t appropriate for finance professionals, and vice versa. If you are creating documents for boards, you should include a glossary for special terms or acronyms. This will ensure that all readers are able to comprehend the document.
In addition, the board should establish its own internal guidelines and standards for preparing board documents. This includes the use of an outline template and preferred choices for fonts, as well as the creation of an appendix for sharing sources or providing additional information. The board should also define rules for a quorum, as well as the number of members required for a meeting to be held, making sure that all directors take part and be heard.
Boards should distribute meeting materials well before the meeting to ensure that directors have ample time review them prior to the meeting. A week is a good period to allow directors ample time to study and prepare for the meeting.
