Board Decision Papers
Board decision papers are written documents for board members to fulfill their oversight responsibilities and take informed decisions regarding company issues. They must be concise and informative, with a clear summary and supporting annexes.
The factors directors should consider to make the most appropriate decisions on the subject could include a discussion of alternatives analysis (such as techniques like Six Thinking Hats), an overview of the key metrics such as research data or competitive insights and operating context that informed perspective, or even an analysis of the effect of each option on the business. It is also important to illustrate how management made the most appropriate option. This could include explaining the different options considered or a summary of the pros/cons for each one, as well and how the preferred approach performed on a variety of criteria.
Board papers should be written in a formal, business-like style without jargon or legalese. This will help keep the content current and readily accessible for all directors. Charts and graphs can be used to present the data trends and information, and break up large blocks of text. It’s recommended view to read the paper in public or with peers to evaluate clarity and make sure that the main points are clearly communicated. If further clarification is required it’s usually ideal to invite questions, feedback or other perspectives from the board.