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A well-crafted report from the board is a powerful instrument to foster collaboration, transparency and accountability and facilitating strategic alignment. Many organizations struggle with making reports for boards that are current and accurate. The negative impact of a poorly presented or insufficient data is detrimental to the decision-making process as well as the growth of the business.

Make sure you only share the information that is necessary to help move your board forward. This will prevent information justmatlab.com overload and the need for lengthy explanations.

Start with a summary or abstract that outlines the main aspects of the report. This will allow board members to quickly review the report and understand its most important elements. Use this method to determine your company’s KPIs. Include specific data in the context of the goals and targets that were set last year and show the progress made.

Include a section on industry trends and challenges. This is a great way to explain the financial data you share and help your board members understand, for instance, why your market shares changed or increased. Also, if you’re experiencing any significant regulatory obstacles make sure to mention this information in the report to help your board members to evaluate the potential legal risks and consequences.

Then, discuss your next step plan with the board. It doesn’t matter if it is an idea that is new and requires their approval or a reevaluation of an existing project.