what is a key factor to success in board work?
TRANSCRIPT
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BOARD BOOT CAMP
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ASHLEY TOTT
@ashley_tott
https://se.linkedin.com/in/ashleytott
+46 70 375 7914
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Hot dog kiosk 2017 - Owner working in the business
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He only worked IN the business for 5 years…
2023
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..but if he worked ON the business….
2023
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WHAT ARE THE KEY PRINCIPLES?
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#1 - Make decisions - the whole reason for working actively with you board is to make decisions. Great ones!
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#2 - Diversity
The quality of your decisions will be even greater when you discuss them with others that do not think like you. People who are different.
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#3 - Questions - Be Curious And Question. What Is The Purpose Of This Board Meeting? Why? How?
When?….
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#4 Roles - Understand the roles in board work really well
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1. OWNER 2. BOARD 3. MANAGEMENT
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“WE CHOOSE TO GO TO THE MOON”
–JOHN F. KENNEDY, R ICE UNIVERSITY, SEPT. 12 , 1962
OWNER ROLE
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Board Deciding the strategy
Photocredit : NASA
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Management Executing the strategy
1969 - JULY
Photocredit : NASA
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CEO +
BOARD
OWNER
Unfortunately many companies end up in the “Tractor model” - with a weak owner role. This may even happen when the owner works in the business as CEO (but does not do any work in the Owner job).
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1. OWNER 2. BOARD 3. MANAGEMENT
1. VISION 2. STRATEGY 3. EXECUTION
1. OWNER DIRECTIVE 2. STRATEGY DOCUMENT 3. ACTION PLAN
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BEING AN OWNER IS A JOB THAT PAYS!
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SET UP YOUR OWNER WORKFLOW OR
“LOOP”
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1 . V IS ION AND FRAME OWNER D IRECT IVE .
2 . DEC IDE THE OWNER TEAM AND ROLES
3 . SET AN OWNER MEET ING PLAN
4 . F INANCE THE BUS INESS
5 . RECRU IT THE BOARD
6 . MOT IVATE , LEAD AND EVALUATE THE BOARD
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Employ a board that can deliver a strategy that maxmises your chance
of success. As this picture shows - a simple
decision (before you enter the maze of daily operations) - can save a
thousand hours.
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NULÄGESANALYS
BOKA STRATEGI MÖTET
AFFÄRSPLAN
STRATEGISKA BESLUT
BUDGET
GODKÄNNER BUDGET
GODKÄNNER AFFÄRSPLAN
APRIL
NOV