What makes an effective board?
- Board performance is vital to the success of an organisation. To ensure the board is a strategic asset, it must have a plan of what it intends to achieve, the right mix of skills and knowledge to achieve it, effective processes, governance, and communication, and the ability to work effectively as a team
- Boards should monitor the effectiveness of each of these components regularly in order to optimise the impact it can have on the organisation
Creating the board plan
- The Board Plan defines the key deliverables for the Board for the year.
- It focuses the Board on the most critical areas it can impact in order to steer the organisation towards the successful execution of its Corporate Plan
- It also ensures individual accountability for each Board member in contributing to those key deliverables for the Board
- A new plan is created to define the plan to execute for each year
- Each plan has a number of strategic pillars
- The strategic pillars are the high level strategy areas that the business is driving towards. Objectives are aligned to each of these so that it’s clear which objectives are contributing to which area of the plan
- The Board Plan will also enable regular assessment of the performance of the Board via Pulse Checks
- Only the Chair of the Board can add Board Plan Objectives
- To add a new objective select the Financial year you’d like to add the objective to. This is the financial year during which the objective will start.
- Then select Add objective
- See the guide on adding objectives for details on how to add an objective
- Board plan objectives will be assigned to the Board Plan in the ‘Assign to’ section
- The objective is automatically assigned to the chair
- ‘Save and mark as agreed – then decide whether the same objective should also be cascaded to the other board members
- They will receive a notification to prompt them to agree to the objective