In order to reduce unforced errors, boards should take time out to reflect on the items within their control as a board and to execute good governance consistently across those areas.
I’ve put together a top 10 of examples of unforced errors in the boardroom. Ten examples of unforced errors in the boardroom include:
- Lack of clear strategy communication.
- Inadequate board diversity and perspective.
- Failure to manage conflicts of interest effectively.
- Poor meeting preparation and documentation.
- Insufficient oversight of executive performance.
- Ignoring red flags in financial reporting.
- Passive or checkbox compliance cultures.
- Inaccurate or late delivery of board packs.
- Weak succession planning.
- Ignoring feedback mechanisms from stakeholders.