Boards that regularly engage in forward retreats to challenge assumptions, rethink systems, begin a strategic planning process, tackle difficult issues and forge camaraderie for the overall benefit of the organization.
The retreat will provide the right place to help the board refocus its activities and contributions; to engage in open conversations needed to build an understanding of the dreams they share for the organization to improve productivity.
The board retreat usually grows out of current circumstances of an organization or board, and will usually involve:
- Strategic Planning – an environment to address long-range issues such as a review of the organization’s mission statement, future vision and recent achievements.
- Developing initiatives and plans that can be implemented for transformation and business success.
- Engaging the participation, contribution and input of all board members leveraging on their experiences.
- Building bridges to improve communication, trust, cohesiveness, culture and structure of the board and organization.
- Self-Assessment and Board Development – remind the board of their expected contributions to the growth of the organization.
Board of Directors bears a legal responsibility to govern a corporation. Fulfilling that responsibility encompasses many individual roles and responsibilities; setting policies, budgets and putting strategies those results in the achievement of organizational goals.
The success of a business is rested on the board’s knowledge and ability to do the following:
- Set Corporate strategies, Structure or long-range plans for meeting objectives
- Monitor operations to ensure return on investment, security of investment and social accountability
- Exercise accountability to shareholders and be responsible to relevant stakeholders
- Resource allocation, financial decision making and top management performance appraisal
- Assessing and developing skills of the human resource of the organization
Retreat Objectives and Structure
The detailed objectives to be achieved from the Retreat are as follows:
Pre-Retreat Analysis and Pre-Reading
Prior to the retreat, the board members will be provided with pre-retreat information and updates on topics to be covered during the retreat. Board members will also be invited to provide input papers for pre-reading and presentation at the retreat.
- The pre-retreat questionnaire is a useful tool to discover the issues most relevant to the board and the business environment of the organization. This is to reach out to all board members to ensure that all retreat participants understand that their input is desired and valued.
Pre-reading documents will include, but not limited to:
- The Vision and Mission of the organization
- Document on the operations of the organization
- Roles and responsibilities of board member
Development of Standard Reporting Template Departments and Units
As part of our planning, we will develop reporting templates that will be circulated to board members to provide a standardized format for reporting on mandate, activities, programmes, achievements, challenges/constraints, and future for each unit and department.