Top tips for effective decision making
Posted on October 19th, 2009 by Amy Ritman in tips for good governanceWe asked 70 senior leaders to share their tips on enabling boards to make effective decisions. Here are some of them.
• Use all available knowledge and experience to make decision- is there another organization using this particular method/equipment/ policy. Can the board learn from others’ experiences?
• Don’t respond to operational pressure to make a decision- the board is responsible for doing what is best for the organisation overall.
• Take necessary time to make the decision – don’t rush into it
• Consider all decisions to be made in light of the organisations overall objectives – and be sure that any decision made contributes toward the over all achievement of the organisations objectives
• Where possible invite an executive with knowledge of the decision to be made to present the business case to the board
• Think strategically about financial implications of decision making
• Consider the implications of any decision and the impact it will have on the organization
• Be sure that any board member who may have a conflicting interest declares this and that the board then acts appropriately
• Collect together all the relevant information prior to the meeting of the board, so board members can read and prepare in advance
• Document the decision to be made and ensure a shared clear understanding of the issue.
• Be absolutely clear about the decision the board wishes to make.
• The board demand regular reviews of strategy to assess relevance of organizational objectives in a changing world; the board rigorously review their objectives to be sure they are ‘fit for purpose’
What would your top tip be? Share it with us in the comment box below.
Tags: boards, good governance, leadership





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