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Saying “it’s all about the customer” but then failing to follow that through in agendas, reports, discussions, and decisions.  It’s easy to say it – but even easier to slip back into a focus on internal issues and reliance on how things look from our viewpoint rather than the customer’s.  Don’t fall into the widespread trap of assuming that those two viewpoints are the same…

Claiming that “innovation” is a strategic driver and part of the business culture (a frequent feature of CEO statements in annual reports) – and then neglecting to talk about it very much in the boardroom.  If management don’t bring it into papers and discussions, challenge them on it.  If it doesn’t crop up – implicitly as well as explicitly – ask why not: Is it really part of the culture?  Is it rewarded?  Is it understood?  It’s an obvious area for challenge, one where the non-executives can use their more detached perspective to make sure executives walk the talk.

Allowing a lack of understanding of major tech trends to get in the way of asking the big questions.  Management may well be thinking imaginatively and a long way out – but are you really in a position to judge?  And are you objective in assessing the opportunities and the risks – or overly cynical about the pace and nature of change?  We probably all feel more comfortable with what we know and understand – and can unknowingly be quite blinkered in our thinking.  What might be needed to shake up the board’s view of the world?

Thinking it’s mainly about the products and services you deliver, this is an important part of course.  However, appreciating the wider impact and thinking through the full scale of change needs space and time in the board agenda also.  So boards should be creating that time periodically to allow broad thinking.

Thinking you understand the “new generation” mindset and the way they research, analyse, communicate, buy, migrate…  It pays to be healthily sceptical of the ability of a group of “old world” non-executives (average age of?) to really understand what is changing and the impact.  Most will readily admit that, at home, their children or grandchildren are “on a different wavelength” – but then many go on to claim that they “get it” when it’s discussed in the boardroom.  If they do, all well and good – but a bit of unashamed honesty is sometimes needed if a board is really to confront the challenges.

Assuming that the common sense the non-executives bring is enough to challenge the executives.  It may well go a long way, especially if you number amongst you an independent director who’s tech savvy.  But things are moving fast and there’s a lot to learn from what’s happening outside.  A fresh perspective designed to complement the in-house view could make a big difference in highlighting angles you might not have thought of – and give the board a lot more comfort.

Letting it slip off the risk radar as a “management issue” – or even letting it remain unseen as “somebody else’s problem”.  Where there’s critical reliance, a board’s oversight needs to extend to a good understanding of the risks and how they are managed, coupled with assurance and performance reporting.  And that applies too where it’s a service from elsewhere in the Group – the risks might be less (although sometimes they’re merely a bit different) but either way you need to make sure you aren’t taking things for granted.

Assuming the process is working just because it exists.  For many organisations, whilstleblowing processes have been in place for ten years or more.  But have they become stale?  How do you judge?  Has it become a rote item on the audit committee agenda?  Or is the process alive and kicking?

Relying on the processes working.  All the effort put in a few years ago no doubt meant that right structures, processes and training were delivered.  But ABC is about behaviour – so how are management making sure people remain sensitive to expectations and policies?  And AML too is not just about the process – it’s about how people do it.

Tackling the risk only when it’s too late.  Or thinking there’s not much you can do about it.  Reputations (and the share price) can take a hard hit in a matter of hours – and how you respond is going to make a real difference.  Do management know what they will do?

Treating it largely as a matter for the trustees – and as something the CFO will deal with.  It could be developing as a major risk (and not just financial) for the business so the board needs a clear view of where things stand, of current employee and union attitudes and the PR risks.  And – how does our approach fit with our declared values?