WORLD-FIRST APP TO REINVIGORATE BOARD MEMBERS
Written on the 16 May 2014 by Karen Rickert
DIRECTORS need to get back to basics and revise the roles of the company board to better invest resources, according to business advisor Steven Bowman (pictured).
The managing director of Conscious Governance has developed a world-first app called Strategic Board Essentials, to help leaders boost efficiency.In Brisbane last week to present a masterclass on corporate governance, Bowman spoke to Brisbane Business News about what CEOs need to consider.
“It has been developed for directors to help them before, after and during board meetings to ask the sort of questions that will actually help them and the rest of the board members really focus on what they should be - essentially strategising risk and finance,” he says.After working with “thousands” of directors in recent years and more than 30 years acting on boards as a chair and CEO, Bowman has noticed a common theme of directors being unsure about leading a meeting.
“CEOs struggle to get across the notion that risk is not about compliance but that risk is about strategic advantage and opportunity – rather than something to be feared.“One of the other key areas that we always find is this notion of actually being on the board, you hear all this stuff about governance.
“Whereas the actual role of the board is very different, it makes choices for the community we serve.”
The app features 29 videos on topics including vision statements, tips for reading financial reports and utilising risk, with Bowman’s favourite aspect a set of questions that should be posed for different scenarios.
“It really adds value from day one of being on the board and throughout their career, to continually keep them refreshed at looking at things from a different perspective.“I really hope to be able to get those in senior positions asking the questions which can help create outstanding organisations where both innovation and productivity are at optimum capacity.”
Bowman says different parts of the app help directors ditch the controlling notion of their role and focus on contributing to meetings with “strategic value” instead.He says the app has received a positive response since its launch, with a number of CEOs purchasing the app for members of the board.