The Importance of Committee Reporting
Mark A. Pfister - 'The Board Architect'
Non-Executive Director | Board Director | CEO | Chief Board Consultant | Corporate Strategist | Board Macro-Influencer | Speaker | Author | IBDC.D
Transparent Insight Into the?‘Workhorses of the Board’
(Originally appeared in the March 16th, 2022?'Across the Board'?digital publication, a Board Director, Board Advisor, C-Level, and Business Leader publication reaching 27,500+ exceptional business leaders in over 70 countries with articles focused on leadership, strategy, and governance topics - sign up?here)
It is no secret that proper governance is the cornerstone of great Boards. It can be attributed directly to the organization’s success as well as the inherent lowering of risk at all levels within the organization. Additionally, the direct and effective linkage of governance to the goals and strategy of the organization can elevate this collective success even further. Overall, and unsurprisingly,?the effectiveness of your Board has a direct correlation to the understanding and application of strategy and governance. This being said, governance structures can widely vary across Boards depending on industry, industry vertical, size of Board, experience of the Directors, business complexity, and the level of risk a Board is willing to allow their organizations to live with.
With business complexity continuously increasing and an ever-changing economic and political climate accelerating, these challenges place elevated demands on organizations that must be quickly and systematically addressed to stay relevant. Effective governance (alongside linked strategy) should therefore be a lived framework and process that aligns leadership to take effective action with accountability in the areas of policies, systems, and structures.
One of the easiest ways to kick-off great governance within a Board is to implement a systematic approach for transparency through structured and consistent Committee Reporting. Board Committees, rightfully known as the?‘workhorses of the Board,’?can easily act as the foundational governance starting point in this process, and also keep important consistency.
The success of any governance model is always dependent on the proper linkage of the organization’s goals, strategy, & governance, and Board Committees need to follow this prerequisite, as well. Board Committees commonly align their efforts to their specific sub-goals and associated strategies, but should never lose sight of the overall goals and strategies that these roll up to. This alignment is paramount to ensure that Committees are focused in areas that bring value to the agreed overarching goals of the Board and organization, hence the benefit of Committee reporting not only providing insight on the Committee’s focus and accomplishments, but also allowing for multiple lenses (individual Board Members and other Committees) to evaluate the relevance.
Structured Committee reporting is a best practice unfortunately still not followed by a fairly large number of Boards.
This can prove to be a mistake with multiple instances of these Boards simply not accomplishing what they set out to do while simultaneously hindering proper cross-Board communication. Conversely, Boards that implement Committee reporting requirements commonly experience higher levels of success, decreased risk, full Director involvement, and more robust decision outcomes.?
When structuring a reporting requirement, recognize the key components of a great Board Committee Report:
Examples of Board Committee Report layouts can be helpful in understanding important content areas:
Note that some Committee reports also reiterate the Committee’s Goals and which overarching organization goals these roll up to – I believe this to be a great practice, allowing for a familiar guide to keep the Committee on track and also acting as a reminder of why the Committee’s work is so important.
Committee Reporting Frequency:
It must be remembered that Board Committees comprise a large and important component of the governance process. This should be created with clearly established reporting procedures along with a documented scope of authority, commonly achieved through a Board Committee Charter. Instill a deep level of governance and strategic responsibility within your Board’s Committees to harness the governance advantages from the?‘workhorses of the Board.’
Are your Board’s Committees properly enabled for governance excellence?
Reach out to learn more?through?our?Board Director Education & Certification program, plus?Consulting &?Advisory?offerings,?and?International Speaking Tour?topics.
Mark A. Pfister - Non-Executive Director |?CEO |?Chief?Board Consultant?| Corporate?Strategist | Board Macro-Influencer?| Speaker?| Author - www.PfisterStrategy.com
About the Author:?With a strong focus in Strategy, Governance, and Technology/Cybersecurity, Mark A. Pfister is CEO & Chief Board Consultant of M. A. Pfister Strategy Group, an executive advisory firm that serves as a strategic advisory council for executives and Boards in the public, private, and nonprofit sectors. He is also Chairman & CEO of Integral Board Group, a specialized Board services and consulting company.?Mr. Pfister is a?'Board Macro-Influencer'?and his success has been repeated across a wide range of business situations and environments. He prides himself on being a coach and mentor to senior executives and directors. In Board Director circles, Mr. Pfister has earned the nickname?'The Board Architect’.............?<< read full bio?here?>>
____________
Sponsored Advertisements
领英推荐
Advertise With Us
Have something that could benefit the?'Across The Board'?community and further elevate leadership? By all means,?click?for audience engagement details,?pricing, and multi-article discounts. Get your coveted offerings in front of the premier curated group of 27,500+ Board Directors, Board Advisors, C-Level, and Business Leaders in over 70?countries. The right audience makes all the difference!
____________
Board Education?& Certification
____________
Have Mark join you on his?International?Speaking Tours?[?14,500+ attendees / 60+ speaking engagements every year?]
Also available in online / video conference formats
'Becoming an Exceptional Board Director Candidate'?Learn the proven and effective steps to plan and implement your Board Director strategy. Experience how these achievable & focused efforts help you convey the expertise and confidence needed for serious Board Director / Board Advisor consideration (Available as?a?speaking engagement and/or an?education?&?certification course).
'Building an Effective Board For Your Company'?shows business owners and leaders the immense value of creating or rebuilding an experienced?'go-to'?Board of Directors or Board of Advisors - and most importantly, how to do it via a step-by-step roadmap. Make your company soar with the right foundational elements of an effective Board. (Available as?a?speaking engagement?and/or?consulting engagement).
'Customizable Board of Directors and Leadership Topics'?With a passion for teaching, collaborating, and sharing information, Mark A. Pfister has joined the stage as a keynoter, sole presenter, moderator, and panelist on countless speaking engagements on the topics of strategy, governance, leadership, and Board Directorship. When organizations search for a speaker to leave a lasting impression, Mr. Pfister is frequently considered due to his combination of experience, presence, and ability to make a true connection with audiences. It has been quoted,?“Mark’s ability to collaborate and seamlessly incorporate a requested topic into his repertoire during our many conferences has not only elevated our organization’s image, but also made our yearly event a ‘must attend’ for many executives joining us from around the world.”?(Available as?a?speaking engagement?and/or?consulting engagement).
'The Strategy of Strategy'?Guides Boards and audiences through the 2500+ year history, evolution and next phase of formal Strategy -?'Amorphic Strategy.'?Learn why strategy is so relevant to you personally,?your organization, and your role as a Board Director. Build a viable strategy and?experience how these focused efforts will help you and your organization thrive and reach full potential?(speaker video).?(Available as?a?speaking engagement?and/or?consulting engagement).
____________
Here's Some Additional Reading
See all articles?here
★???Join Our Mailing List???★
____________
"Get Quoted"
Want to be quoted in an upcoming?'Across The Board'?article on a topic you are passionate about? Over 200 experts have done so to-date. Propose an article topic or let us know your expertise area?and let's work through the details.?Reach out?to get your name and company in front of the premier curated group of global Business Leaders, C-Level, Board Directors, & Board Advisors - go ahead, make a name for yourself!
Also, explore the possibility?of providing an article quote and supportive?advertisement?simultaneously - these get the best traction and response.
____________
Copyright ? 2022?All rights reserved