Articles written By Better Boards

Getting the Most Out of Board Committees

Join our panel to explore board committees, hear how to ensure they are operating effectively and gain insights on how they can add practical value and benefit to the work of your board. Use of board committees to undertake the detailed work of the board in particular areas has long been considered part of contemporary practice. While Finance and Audit Committees have been a mainstay of boards’ governance structures, today there is an increasingly diverse range of foci delegated to committees.

Board Dynamics: Overcoming Miscommunication Among Directors

Effective communication is the lifeblood of any well-functioning board of directors. When miscommunication occurs, it can lead to confusion, poor decision-making, and misalignment that undermines the board’s ability to provide strategic oversight and governance for the organisation. Just like the game of “Telephone” where a message becomes increasingly garbled as it gets passed along, miscommunication among directors can distort critical information and perspectives. There are several key factors that contribute to miscommunication within boards.

What is Strategic Planning?

Strategic planning is a critical process that helps organisations chart their future direction. With business environments continually evolving, organisations must regularly re-evaluate their strategies to ensure they maintain competitive advantage. While the fundamental principles remain the same, strategic planning today is notably different than past approaches. Table of Contents What is Strategy? What Is Strategic Planning? The Strategic Planning Process Key Trends Reshaping Strategic Planning The Board’s Role in Strategic Planning The Chairperson’s Role in Strategic Planning The CEO’s Role in Strategic Planning Evolving Approaches to Strategic Planning Overcoming Strategic Planning Challenges Elements of Effective Business Strategy How to Define Strategic Objectives Scenario Planning for Strategic Foresight Implementing Strategic Plans Pitfalls to Avoid in Strategy Execution Evaluating Strategic Plans Updating and Evolving Strategies Criticisms of Strategic Planning Alternatives to traditional strategic planning Strategic Planning Templates In Summary Additional Resources & F.

Risk Appetite

Jump to Section What is Risk Appetite? Why is Risk Appetite Important? Risk Appetite Statement Risk Appetite and Culture Monitoring Risk Appetite Risk Appetite Statement Examples Example 1: Small Not-For-Profit Club Example 2: Large Superannuation Fund Example 3: Medium-Sized Technology Firm Podcast Episode: Risk Appetite Frequently Asked Questions Related Terms Additional Resources Understanding risk appetite is critical to the operations of a business or organisation. To set clear and manageable goals, an entity must understand its appetite and tolerance for risk.

Risk Matrix

Jump to Section What Is a Risk Matrix? Advantages and Disadvantages How to Create a Risk Matrix 5x5 Matrix Risk Assessment Matrix Example Risk Assessment Matrix How to Use a Risk Matrix Risk Matrix Tips Podcast Episode: Power of the Risk Matrix Frequently Asked Questions Related Terms Additional Resources The risk matrix is an indispensable approach to understanding the risks involved with not-for-profit work and a useful tool for conducting assessments and setting priorities as a not-for-profit organisation.

Digital Detours: Unseen Risks on the Road to Transformation

When planning for the future and growth of the business, Leaders often curate a Digital Road Map which is aimed at completely transforming the business. However, the one thing that gets completely missed out in this masterplan is the incorporation of effective risk management protocols. This hinders the organisation’s ability to prepare for unexpected events that can impact their operations. This webinar focuses on the hidden hazards in Digital Transformation and will provide leaders with ideas on how to navigate this minefield.

Director & Board Due Diligence

Protect Yourself, Protect Your Board Directors hold the critical role of custodians and stewards of their organisation, representing its members and balancing significant responsibilities, risks, and rewards. Effective governance demands rigorous due diligence, ensuring informed decision-making and safeguarding against legal liabilities, reputational damage, and unforeseen events. In this webinar, you will learn: The importance of due diligence for both prospective directors and boards in the recruitment process. Key steps and best practices for conducting thorough due diligence.

Governance 101

Communities, government, regulators, and other stakeholders increasingly require contemporary governance of community businesses (NFPs) to ensure accountability, transparency, and delivery of outcomes consistent with Vision and Mission. Directors of community businesses have distinct governance roles and responsibilities. It is crucial for directors to understand both the theory and practical application of these roles to add value to the board and meet stakeholder expectations. In this webinar, you will learn: Introduction to Governance - Practical application of directors’ duties and governance roles and responsibilities.

Resolving Small Conflicts Before They Become Big Problems

In any organisation, challenging situations will appear from time to time. But, as the saying goes, “Conflict is inevitable, Combat is optional”. In this session, we will explore how the way you respond to conflict can either lead you towards combat or deliver you to a peaceful, productive outcome. Using her experience from hundreds of disputes and extensive knowledge of negotiation theory, Nicole will provide you with concrete skills to manage difficult situations that arise within your organisation.

What Is a Shadow Director?

Board directors often ask others for advice on a range of issues related to finance, law, risk, and governance. On occasion, these relationships can cross a line and create the complicated dynamic of having a shadow director. A shadow or de factor director is a person who exercises a high degree of influence on the organisation and/or leads management-related work that would typically be assigned to a Board director. Having a shadow director can give the impression to a company’s stakeholders, creditors, and employees that the people making decisions are not being transparent.