Board decision papers are written documents that aid board members to fulfill their oversight responsibilities and take well-informed decisions regarding company matters. They should be concise yet informative and concise, with an enlightened executive summary and an appendix to support it.
Directors can be assisted to https://boardroomofficial.com/ make the right choices through discussions on alternatives analysis, a review of key metrics such as research or competitive insight and an operating context that influenced their decision-making. They could also consider an exercise to assess the impact of the different options on the business. It’s also helpful to explain why management chose the preferred decision – this might involve explaining the various options being considered or a brief summary of the pros and cons of each, as well as how the suggested method scored against the criteria.
Board documents should be free of jargon and legalese, with formal business writing style employed throughout to keep the content relevant and accessible to every director. The use of graphs and charts can help to simplify information and data trends, and also break up large blocks of text. It’s also a good idea to read the paper in front of your peers or colleagues to check for clarity and ensure that the key issues are communicated. If any further clarification is required it’s usually ideal to invite questions, feedback or other perspectives from the board.