Boards make a lot of decisions — as well as the number is only getting greater. These are decisions with high-stakes, a lot of uncertainty and tend to be not the kind of thing you are able to delegate.
Suzanne Nimocks: I believe it is very important for the plank to have a sturdy decision-making process that allows those to do the job they are paid to accomplish and help managing teams help to make good decisions. A good method will include stuff like challenging the assumptions, playing devil’s advocate and helping https://boardmeetingtool.net management think of alternatives. It will likewise incorporate processes for avoiding groupthink (eg thinking, Six Pondering Hats, Disney Planning Technique etc).
This is often helped with the use of tools just like RACI, as well as the board may have a formal method to decide which in turn issues work for its suggestions. It might utilize the output from a board escape or the function of committees that have been tasked with several decisions, to be sure that the decision is the arranged risk cravings and was informed by each of the advice they have received.
Leigh Weiss: I think the key is to have a step lower back from the specific decision you are facing and consider, on one hand, the scope of the potential impact (what’s at risk) and, on the other hand, the level of certainty about whether it will appear. This helps you prioritize where you can spend time and be sure that the table is making a high-quality decision based on the best info available.