You might have already made a personal resolution for the new year, but have you thought about how your board can change for the better in 2018? There’s no time like the start of a new calendar year for goal setting—in fact, it’s a practice that’s existed for more than 4,000 years! Not sure how your board can push for even better decision-making in the coming months? Don’t worry, we’ve got some suggestions:
Consider forming an ethics committee.
The last year brought news of a considerable amount of corporate scandal and misbehavior. From the Volkswagen sentencing to the Wells Fargo debacle, board members have been held under a microscope when things go terribly wrong. In response, several writers at Harvard Business Review insist that it’s time for boards to get serious about ethics and form a committee “with responsibility for the firm’s culture of integrity and for creating a robust program of controls and processes to promote ethical conduct and compliance.” The group would work closely with c-suite leaders to ensure that ethical strategies are employed at all levels of the company.
Tackle cybersecurity head on.
The issue of cybersecurity has moved its way up through the ranks of top risks and concerns and become a central boardroom topic. Board members, don’t shy away from confronting this challenge. An internal expert should lead the efforts, yes, but board members should also be acutely aware of how the company plans to face threats as well as how it will respond in the event of a breach or attack.
Do a little reading.
This is a classic New Year’s resolution, so why not translate it to your board service? There are so many great resources out there for corporate directors. Make the most of them and commit to enhancing your knowledge of corporate governance trends and information. Check out our list of noteworthy books, or visit some of our favorite board-related education websites.
Improve your meeting agendas.
This oft overlooked but key boardroom element can make the difference between a good meeting and a great meeting. Check out our blog “Better Board Agendas” for practical tips to get more from your meetings. Here at Directorpoint, we believe that smart, digital agendas can revolutionize the way your board operates. Schedule a demo with us today, so we can show you how our board management software can launch your board into a productive 2018!