A well-crafted report from the board can be a powerful tool to encourage collaboration, transparency and accountability and aiding in strategic alignment. Many organizations struggle to produce board reports that are timely and accurate. It justmatlab.com doesn’t matter if the issue is lack of structure, insufficient information, or inadequate presentation, the impact is detrimental to the decision-making process and company growth.

Focus on only sharing the information that is necessary to make your board move forward. This will avoid information overload and the need for lengthy explanations.

Begin with an executive overview, or abstract, that provides some of the key takeaways from the report. This lets board members quickly read the report and grasp its major points. Use this method to identify the KPIs of your business. Share specific data in the context of the goals and targets that were set for the previous year and show how they have been accomplished or are improving.

Include a section about industry trends and challenges. This is an excellent opportunity to explain the financial information you share and help your board members understand, for instance the reasons why your market share were either increased or decreased. Include any major regulatory obstacles in your report so board members can understand the potential legal risks.

Discuss your next step strategy with the board. Whether this is a new initiative that requires their approval, or a revision of an existing plan.