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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.
“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.
“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.
“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.
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.
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