How can boards have meaningful conversations about the future?
September used to be quite a predictable month. Students went back to school, holiday memories faded and we entered into planning mode to take us smoothly through year end. But this year is different. Very little is certain just now and we have had to challenge the “normal” way of doing things. So, as many enter the planning season ahead of year end, boards must be prepared to act differently.
Objectives, timing, processes, tools… some innovation is needed in the way boards plan across strategy, targets, finances, reward… and around what they do themselves. Here are some good practices to think through, as well as ones to avoid.
We have also produced a checklist for use by Chairs, Senior Independent Directors (SIDs) and Company Secretaries to help structure conversations about the future. Download checklist