Board decision papers are written documents that aid board members perform their oversight responsibilities, and make informed decisions about company matters. They should be informative and concise with a clear and concise summary and supporting annexes.
Directors can be assisted to make the right decisions by an analysis of alternatives, a review of key metrics and research findings and an understanding of the operating environment that influenced their decision-making. They can also think about an experiment on the effect of the various options on the business. It’s also helpful to explain how management selected the preferred choice – this could mean explaining the various options being considered or a summary of pros and cons for each, including how the suggested method scored against the criteria.
Board papers should be free from legalese and jargon, as well as a formal business writing style employed throughout to make the content relevant and accessible to every director. Charts and graphs can be used to organize information and trends, and also break up large blocks of text. It’s also a good idea to read the paper out in front of your peers or colleagues to assess clarity and ensure that the key issues are communicated. If you’re looking to clarify something, you should seek feedback or views from the board.
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