Boards can make use of decision papers to gather the data needed to understand, formulate and take decisions that will determine the future direction here are the findings of a business. However, if they are not properly prepared, they can be overwhelming in both details and length, leading to poor decision-making.
The most important thing to do when writing a winning board paper is to be short and succinct. Directors have a limited amount of time to read their papers and may not have the same amount of knowledge as you do. It is crucial to eliminate unnecessary operational information make clear arguments instead than long explanations and stick to the facts rather than opinions.
A well-structured decision paper begins with the background of the issue that requires the decision, and then guides directors through your argument, covering the connections to strategy, risk and financial information. This is similar to a traditional story structure and helps directors follow the direction you are taking.
Finally, you must include an assessment of any potential risks that could affect the outcome of the decision. You should include a statement of any issues that are currently in relation to the proposal. This is a crucial part of a paper for a decision and will provide directors with confidence that the information they’re studying is reliable as well as up-to-date. It’s also a good idea to have informal discussions with some of the board members who will be looking over the decision paper prior to their meeting to ensure that all points and information are considered. This will allow you to determine what information needs to be included and, if required discuss with the board members possible outcomes or alternatives.