As she did in our November 2017 newsletter, Maryann Bruce, one of Directors & Boards' "Directors to Watch 2017", advises that while expertise is the most important quality that boards are looking for, you should cultivate other areas as well. Her tips this month include:
Financial literacy - A key role of boards is monitoring financial performance. Know how to read a balance sheet, an income statement & a cash flow statement. Understand the use of financial ratios & other indices for evaluating company performance.
Mature confidence - Board service is the ultimate team sport, placing high value on the diverse skills, qualities & knowledge base of the entire board. Directors must work cohesively together & be open to other opinions & willing to actively listen to cultivate consensus.