Boards are making a lot of choices — plus the number is only getting larger. These are decisions with high stakes, a lot of uncertainty and they are not the kind of thing you are able to delegate.

Suzanne Nimocks: I believe it is very important just for the board to have a sturdy decision-making procedure that allows these to do the job they are simply paid to complete and help management teams help to make good decisions. A good procedure will include such things as challenging the assumptions, playing devil’s advocate and helping management put together alternatives. It will likewise incorporate tips for avoiding groupthink (eg thinking, Six Considering Hats, Disney Planning Technique etc).

This is helped with the application of tools such as RACI, plus the board may have a formal procedure to decide which usually issues work for its source. It might utilize the output software to improve board management decision making from a board escape or the job of committees that have been tasked with selected decisions, to make sure that the decision is within the agreed risk hunger and happens to be informed by all the advice it includes received.

Leigh Weiss: I do think the key is to use a step to come back from the certain decision you are facing and consider, on one hand, the scope of the potential impact (what’s at risk) and, on the other hand, the level of conviction about if it will take place. This helps you prioritize best places to spend time and be sure that the plank is producing a superior quality decision based on the best information obtainable.