Good Governance: First 100 days of 2018
Three high-impact areas that can benefit from a governance refresh
CEOs, presidents and other executives all create 100-day plans as they embark on a new assignment, or they may devise a hundred-day refresh plan as they move downstream and feel the need to recalibrate. Could your board commit to a “100 Day Refresh” of governance as you move into 2018?
Here are three high-impact areas that are easily refreshed by the board of directors. In my work with 75 credit union boards, I’ve yet to find one who couldn’t benefit from a review of these areas.
Dashboard tracking systems. Since publication of the “balanced scorecard” literature in the early 1990s, boards as well as operating units have incorporated this method for easier tracking of key performance indicators. High-performing boards typically design dashboards for three areas of organizational performance: financial, member service and culture. Some boards also apply dashboard tracking to monitor board development, community service and/or innovation.
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