Great boards make time to make the big decisions
At monthly board meetings, directors review the implementation of the strategy, ensure financial goals are being met and consider ongoing strategic and financial decisions.
The annual board calendar is another level of decision making. The annual board calendar is a valuable planning tool to help govern more effectively. It considers a logical and timely meeting schedule that is in addition to the monthly board meetings. It involves setting dates for important events critical to good governance at the beginning of the year.
Important learning and decision-making events include (at a minimum):
Board Professional Development (group training)
Board Policy Review
CEO Performance Appraisal
Director Search and Succession Planning
The reasons dates are set early in the year are obvious. The annual board calendar assists directors and managers in ensuring that critical board decisions requiring an investment in time are addressed in a timely and logical manner. Key issues for the organisation can be identified and adequately addressed.
Individual directors begin to understand the time requirements of their role and can plan their own affairs with their legal and ethical responsibilities to the organisation in mind. For example, directors can plan holidays while ensuring their availability for the strategic planning review. Directors can seek specialist training in preparation, prepare their thoughts or undertake research.
For the board as a group, repetitive discussion of issues at monthly board meetings is minimised. The board’s focus can be aligned with key reporting and compliance dates. The board can seek professional facilitation in a timely manner and budget appropriately.
The annual board calendar is a valuable planning tool to help the board govern more effectively. Our accredited Governance Training, which includes Manadatory Director Training for NSW Registered Clubs, has a session dedicated to decision making. Click here for further information or call us on 1300 76 22 38.
Incorporated into Integrated Governance 40 Board Policies 08: Decision Making.