Wednesday, August 27, 2008

Confidence at the Board Table


The value others see in us as Directors is what we contribute to the combined wisdom of the board, and to the success of our organization. It takes confidence to be a contributor.

You may have reached this site looking for information that would help you contribute, with confidence, at your next board meeting. Were you looking for Strategic planning? Board evaluation? There are lots of websites that talk about how to create a strategic plan, or the importance of board evaluation. Good for you for working to be prepared.

But is the confidence you are looking for, built from knowing the mechanics of strategic planning or board evaluation? Will knowing how to prepare a plan, help you with the questions you will have to answer when the board is asked to approve the plan?

Do you believe this plan is the best for our organization? Do you believe this plan can be successfully executed? Do you believe that risks in this plan are acceptable? Will you vote “yes”?

While knowing how to prepare a plan is valuable, Directors are concerned first about risk, not mechanics.
1. Boards manage the risk in management’s proposal and actions
2. Directors contribute by bringing their experience with risk situations to the board’s discussion.
3. Your value to the board discussion is your ability to identify and manage risk.

Risk management is a Director’s fundamental skill. Knowing risk management is the foundation for director confidence. When you see yourself first as a risk manager, then the rest of your role as a Director becomes obvious and makes sense. It’s the dividing line between the role of the Directors and the role of the CEO.

This site will help you build your skills as a risk manager and build your confidence at your board table. It’s designed around specific topics such as strategic planning or board evaluation.