Explore every episode of the podcast Conscious Governance Moments
| Title | Pub. Date | Duration | |
|---|---|---|---|
| Finance for Strategy Not Figures | 31 Mar 2023 | 00:02:14 | |
Shifting the focus: How to move beyond the numbers and into strategic finance conversations.
Finance is not just about figures, it's about understanding the reasons for variance and strategic implications for the company. A Finance, Audit & Risk committee should focus on these conversations rather than the figures themselves, and provide strategic implications for board discussion. For more go to: | |||
| Risk Policy Opportunity Focus | 31 Mar 2023 | 00:00:58 | |
Shifting the focus: How to move beyond the numbers and into strategic finance conversations.
Reframe risk management to focus on strategic opportunities, not just compliance. Add language to policy to shift perspective on risk. For more go to: | |||
| Risk-Mindset Drives Innovation | 31 Mar 2023 | 00:01:00 | |
Unlocking strategic advantage: The role of board-level risk management.
Risk management must start at the board level and involve a mindset of innovation to extract strategic advantage. Senior executives must focus on major, endemic risks and work to control and mitigate them. Staff will follow suit with the right mindset in place. For more go to: | |||
| Risk Strategy Accountability | 31 Mar 2023 | 00:01:17 | |
The role of a Risk Committee in driving strategic decision making.
The Risk Committee helps identify and manage top risks while training the board to identify opportunities. Ensuring accountability & incorporating strategic implications in board reports helps create a strategic environment. For more go to: | |||
| Rethink Risk Management | 31 Mar 2023 | 00:01:39 | |
Rethinking risk: How to turn threats into opportunities.
Risk is often seen as negative, but it should be viewed as an ongoing conversation to understand how it can be turned to our advantage to achieve strategic goals. Risk management standards define it as anything that impacts our ability to achieve goals, making it inherently strategic. For more go to: | |||
| Risk Appetite Statement Guide | 31 Mar 2023 | 00:01:22 | |
Setting clear boundaries: Our Risk Appetite Statement defines our limits.
A risk appetite statement clearly communicates to staff and board what risks the company is willing to take and what is off limits. It helps focus attention on important areas like staff and client safety and potential opportunities for expansion. For more go to: | |||
| Focus on Key Risks | 31 Mar 2023 | 00:01:06 | |
Don't bore the board: Prioritizing key risks in your report.
When providing risk reports to the board, focus on the top three to five key risks and avoid overwhelming them with unnecessary detail. Consider the board's role in making choices that shape the future and assess the culture of risk management within the board. Implement key performance indicators for the CEO that reflect top risks and have success measures in place. For more go to: | |||
| Focus on Key Strategies | 28 Feb 2023 | 00:00:54 | |
Focus on the few: The power of prioritizing key strategies.
Strategic planning should focus on 2-4 key strategies, rather than trying to address too many at once. These key strategies should help drive the company towards its vision and be based on what has been learned from scenario planning. For more go to: | |||
| Vision Statement: Driving Force | 28 Feb 2023 | 00:01:05 | |
The power of purpose: Your Vision Statement as a guide.
A vision statement helps to guide future planning by considering what the desired future outcome is and what needs to be done to achieve it. Scenario planning involves considering unlikely or unusual possibilities and preparing for them. For more go to: | |||
| Unpacking Vision for Strategy | 28 Feb 2023 | 00:01:55 | |
Why Your Vision Statement Needs to Go Beyond Just Words
The most effective way to reach agreement on a vision and purpose is not to focus on specific words, but rather on the guidance and strategic conversations it enables. It's important to consider the perspectives of all stakeholders and understand what the vision means to them. For more go to: | |||
| Operating Plan Activates Strategy | 28 Feb 2023 | 00:02:37 | |
Mastering the art of strategy: Three key elements for success.
There are three important elements in a long-term strategy: a vision or purpose, a strategic plan, and an operating plan. The board is responsible for the long-term strategy and regularly updates it, while the management team is responsible for the operating plan. It is important to align individual roles and tasks with the organization's strategy. For more go to: | |||
| Strategic Planning with Scenarios | 28 Feb 2023 | 00:01:21 | |
Forward thinking: How scenario planning can help your organisation plan for the future.
Scenario planning should be a key part of good strategic planning as it helps organisations to focus on their vision and consider different future possibilities. It can be done in-house or with the help of trained professionals and can help organisations to prepare for a variety of future outcomes. For more go to: | |||
| Avoiding Wish List Strategic Plans | 28 Feb 2023 | 00:01:49 | |
Accountability is Key: Make your Strategic Plan a plan, not a list.
The strategic plan is a key accountability document for the board and should include time frames, outcome measures, scope, time frames, project manager, resource implications, budget, and success measures for each action plan. It's important to also consider the risks involved in implementing the action plan. For more go to: | |||
| Strategy Dictates Budget | 28 Feb 2023 | 00:00:53 | |
Budget should follow strategy, not the other way around.
Strategy should not be limited by budget, but rather the budget should be set based on the chosen strategy. It is important to consider alternative ways of funding and to not let resource constraints dictate the direction of the organization. For more go to: | |||
| Strategy Creates Future | 28 Feb 2023 | 00:00:57 | |
Making a difference: The purpose of strategy.
Strategy is about creating the future and making a difference, not just an exercise. It involves considering possible futures and continually working towards them with detours along the way. For more go to: | |||
| Continuous Strategy Review | 28 Feb 2023 | 00:01:05 | |
The key to staying relevant: Ongoing strategic planning.
Strategic planning is an ongoing process that should be regularly reviewed and updated. It should be discussed at board meetings and involve input from staff and consideration of external factors. This can make for more interesting and efficient meetings. For more go to: | |||
| Strategic Planning Sequence Explained | 28 Feb 2023 | 00:01:25 | |
Don't get lost in the details: The importance of keeping your strategic planning simple.
Strategic planning follows a sequence to identify key strategies that align with an organisation's vision, scenario planning and SWOT analysis in order to deliver on goals and effectively leverage strengths, weaknesses, opportunities and risks. It typically focuses on 3-4 key areas of work. For more go to: | |||
| Anticipating Change and Adapting | 28 Feb 2023 | 00:01:16 | |
What's on the horizon?
Forecasting the strategic issues that will impact your organisation. Envisioning the future: Key insights from senior executives and stakeholders. Every few months, bring in executives or stakeholders for a discussion about potential strategic issues and implications for the organization in the next 10 years. This helps make strategic planning more robust and board meetings more interesting. For more go to: | |||
| Maximizing Report Impact | 31 Jan 2023 | 00:01:41 | |
From information overload to strategic insights: Transforming board reports.
Maximizing the effectiveness of board discussions through strategic focus. The board agenda should include a heading on each report for discussion or decision outlining the strategic implications for the board to consider. This will help directors focus on the most important issues and bring their insights and diverse perspectives to the conversation. If there are no strategic implications, the report should not be brought to the board for discussion. For more go to: | |||
| Clarify Agenda Items Ahead | 31 Jan 2023 | 00:01:06 | |
Get Clarification Before the Meeting
A Smart Strategy for Directors. Petitioning the Chair: A Way for Directors to Influence the Agenda The Chair and CEO can hold pre-board meetings with directors to clarify agenda items or add new items, encouraging active engagement and strategic importance. For more go to: | |||
| Clarification technique shortens Board meetings | 31 Jan 2023 | 00:01:14 | |
Eliminate unnecessary board meeting questions with this technique.
Having a pre-board meeting for directors to clarify questions can save time in the actual board meeting and improve efficiency. For more go to: | |||
| Tips for your Strategy review | 31 Jan 2023 | 00:01:07 | |
Get the most out of your Strategy review with these tips.
A planning day or review of a strategic plan can be helpful for a board to have a more strategic board meeting. It can also be a good opportunity to have conversations with stakeholders about big issues for the future. For more go to: | |||
| Charting Success: Board Commitments | 31 Jan 2023 | 00:01:30 | |
Setting the Standard: Our Board's Commitments for the Coming Year.
Transparency is Key: Let directors know what's expected of them. Provide a table outlining expected commitments for new directors as part of their induction program, including subcommittees, meetings, and stakeholder engagement. It is important for organisations to be transparent about the commitment required for board membership to ensure that only those willing to fully engage are selected. For more go to: | |||
| Who Owns the Agenda? | 31 Jan 2023 | 00:01:09 | |
Avoiding Micromanagement and Rabbit Holes: The Role of Board Agendas.
The chair of the board owns the agenda and controls the conversation at meetings, but should involve directors in determining what should be discussed. For more go to: | |||
| Time-Saving Tool: Consent Agenda | 31 Jan 2023 | 00:01:59 | |
Maximize meeting productivity and streamline decision making with a Consent Agenda.
The Consent Agenda is a technique that separates papers for decision making, discussion, and information only. Items worthy of discussion should be pulled out and discussed separately. The rest can be grouped in a block and approved at the start of the meeting to save time. For more go to: | |||
| Apologies Only Accepted With Preparation | 31 Jan 2023 | 00:01:11 | |
Meeting your duty of care as a director: Apologies are not a substitute for engagement and responsibility.
The necessity of reading Board papers and asking questions as a director. A director's apology for not reading board papers is not acceptable unless they have contacted the chair or CEO to address any questions or concerns. Duty of care requires directors to be informed and diligent in their responsibilities. For more go to: | |||
| Key Ratios and Board Reporting | 31 Jan 2023 | 00:01:13 | |
Board reporting: Going beyond pretty charts and graphs.
Translating ratios into actionable insights for directors ratios can be useful for understanding financial performance, but it's important to know the acceptable range for each ratio and to regularly check that the company is within that range. Dashboard reports should answer the "so what" question and provide implications and questions for directors to consider. For more go to: | |||
| Remind Directors of Purpose | 31 Jan 2023 | 00:01:39 | |
Mission moments: Showcasing the difference your organisation makes.
Rabbit holes and murky conversations: Using your Vision to guide behavior. Having a clear Vision Statement and a mission moment at the top of the agenda helps guide board meetings towards meeting the organization's goals and reminding directors of the purpose of their work. For more go to: | |||
| Why Every Board Needs a Workplan | 31 Jan 2023 | 00:01:37 | |
Effective Governance: The Key Role of a Board Workplan
Having a board work plan or calendar allows directors to better prepare for meetings and helps ensure that the board is constantly discussing important topics. Good work plans also include opportunities for external input on strategic issues. For more go to: | |||
| Planning for strategic conversations | 31 Jan 2023 | 00:01:33 | |
Elevate Your Annual Strategic Conversations with a Comprehensive Board Workplan.
A board work plan helps directors and senior executives plan strategic conversations, allowing them to consider the future of the industry and the insights and perspectives of both the board and staff. This helps to ensure that important topics are discussed and that staff are prepared for meetings. For more go to: | |||
| Keep your Directors focused | 31 Jan 2023 | 00:01:09 | |
Transform your board meetings with a focused agenda.
The purpose of a board agenda is to keep directors focused on making important decisions that will shape the future for the communities they serve. It helps to ensure that important issues are at the forefront of discussions and helps the board to stay organized and focused on their goals. For more go to: | |||