A board report is a document submitted to the executive of a company or other organization to be reviewed and ratified. The documents could contain details on financial data and key performance indicators, forecasts for the future, and strategic initiatives. A well-written board report can aid in making informed decisions and facilitate effective oversight. It can also help the company in meeting its goals and targets. However, creating a good board report requires careful gathering and analysis of information, together with clear communication and presentation. A bad board report could damage the company’s reputation and affect its performance.
When preparing a report to the board it is crucial to think about the board members who will read the report. Board directors are often overwhelmed with other tasks which take up their time. Set yourself deadlines that will allow you to finish your report prior to the time you set so that the board members have enough time to read and understand it.
Visual elements should be included in board reports to entice directors and make the report easier to understand. A pie chart can be used to quickly explain the share of a company’s market relative to its rivals and a scatterplot will show the relation between the metrics.
A table of contents helps board members to locate the information they require, and helps them to keep the track of the contents of the report in general. If your report includes appendices, these should be clearly labeled. In addition, it is important to follow guidelines for formatting and make sure to make consistency of font sizes and styles.
