Mother board Management Decision Making

Boards decide to make a lot of decisions — and the number is only getting bigger. These are decisions with high-stakes, a lot of uncertainty and so are not the sort of thing you are able to delegate.

Suzanne Nimocks: I think it is very important meant for the plank to have a sturdy decision-making procedure that allows those to do the job they are really paid for you to do and help administration teams help to make good decisions. A good procedure will include such things as challenging the assumptions, playing devil’s advocate and helping management produce alternatives. It will also incorporate processes for avoiding groupthink (eg idea, Six Considering Hats, Disney Planning Technique etc).

This can be helped with the utilization of tools including RACI, plus the board might have a formal process to decide which issues are appropriate for its source. It might utilize the output from a board escape or the job of committees that have been requested with particular decisions, to make certain that the decision is within the decided risk urge for food and is actually informed additional reading by each of the advice it includes received.

Leigh Weiss: I do believe the key is to adopt a step again from the particular decision you are facing and consider, on one hand, the scope of the potential impact (what’s at risk) and, on the other hand, the level of conviction about whether it will occur. This helps you prioritize where you should spend time and be sure that the board is making a premium quality decision based on the best data available.