How to Write a Well-Crafted Board Report

A well-crafted report for the board is a powerful tool that strengthens collaboration, increases transparency and accountability, as well as facilitating strategic alignment. Many organizations struggle to craft board reports that are accurate and timely. The issue could be a lack of structure, insufficient data, or a lack of presentation, the impact is detrimental to the decision-making process and company growth.

To maximize your board member’s time on sharing only the information that is essential to move the https://justmatlab.com/best-board-report-format-guide/ needle forward. This will help avoid information overload and the need for lengthy explanations.

Start with an executive overview, or abstract, that gives high-level takeaways from the report. This will allow board members to quickly review the report and comprehend its important points. Then, you can use this method to identify the KPIs of your business. Provide specific information within the context of goals and targets that were set last year and show the progress made.

Include a section on industry trends and challenges. This is an excellent opportunity to give context to the financial data you provide and assist your board members understand, for instance, why your market shares were either increased or decreased. Include any major regulatory obstacles in your report, so that board members can evaluate the potential legal risk.

Discuss your next step strategy with the board. It does not matter if the plan is an idea that is new and requires their approval or a review of a current project.