599 A-3

599 – Board Brief Checklist Page 1 of 3

JWI 599: Business Analytics and Capstone

Board Brief Checklist

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University.

Use this checklist as a guide when you are working on each of the first three assignments for your Capstone Project. It will serve as a reminder of the key content areas and the qualities of a well-written Board Brief. Note that the components listed below are not a direct match for each topic in your assignments. That is not its purpose. While the elements of an effective Board Brief are fairly consistent, the sequence and specific content will vary somewhat depending on circumstances.

Board Brief Component Key Features

Executive Summary Include a clear executive summary (AKA “elevator pitch”) for your brief. A good summary will help focus your audience’s attention. Remember, you are telling a business story not crafting a piece of literature. Your goal is not to let the story just unfold as it goes. Tell your audience right from the beginning where the brief is going and what actions you are proposing. Note: An Executive Summary is best written after the brief is fully developed in order to capture the most significant findings, recommendations and conclusions.

 Capture the big idea of what you want to say

 Frame the problem/opportunity

 State your vision for the organization and the

context for your plan

 Outline a high-level snapshot of how your proposed changes will increase the organization’s competitive strength

 If there is an “ask” (such as a vote at the next meeting), make note of that in the executive summary so that Board members know why they are reading the brief

Data When presenting complex information to a non- technical audience, you must Identify key data relative to the problem or opportunity. Don’t overwhelm your readers by providing page after page of numbers. This may be needed for other types of reports, but not for a Board Brief. Use good judgment in highlighting the most critical data in the main body of the brief. If there are additional data sets that include important information, but are likely to only be reviewed by a few people with specialized knowledge, include these in an appendix (or even in a separate document).

 Recap of the data you have gathered and analyzed

 Document the sources of the data

 Summarize and communicate the data in a clear and meaningful way; show how the data support your position

 Make good use of visuals to illustrate your findings

 Identify areas where data may be missing or incomplete; explain the impact of missing data on your analysis – remember, you will never have complete data and that’s okay,

599 – Board Brief Checklist Page 2 of 3

JWI 599: Business Analytics and Capstone

Board Brief Checklist

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University.

The data that are most important will, of course, vary depending on the specific focus of the brief, but should include qualitative and quantitative data on your organization, competitors and the marketplace to support the strategy you are proposing. It is critical that you make good use of charts, tables and other visual supports to display your data. This will help your audience to more easily understand the patterns, trends and anomalies in the data.

but you need to convince the Board that the data you do have are sufficient to make an informed decision

Implementation Plan Craft a clear map of what will happen and when. This should include actionable steps that identify and align objectives, actions and milestones. Use good judgement in determining the level of detail to provide. Your Board will not need to know specific personnel decisions in every department or the exact specifications of a new piece of equipment you will be purchasing. They need to see a “big picture” overview of how you will turn your plan into a reality. Note: It is likely that Board members will come back to you with additional questions on certain areas of the plan. That’s okay. As you continue to work with your Board, you will learn where different members want to dig deeper, and your board briefs will evolve to address those needs.

 Identify key goals and the actionable steps to achieve your desired outcomes

 Include key milestones

 Include a (proposed) timeline for each milestone

 Identify personnel or organizational changes necessary to accomplish the plan

 If additional training will be required, include a high-level overview of how the training will be delivered

 Identify changes in infrastructure, facilities and major equipment purchases – Note: do not include the financials for these in your implementation overview; address these in your financials section

Financials Your initiative is not going to get approved unless you can demonstrate a positive return on investment. In preparing for your Board Presentation, you must address key financial questions for Board such as projected revenue, fixed and variable costs and ROI.

 How much will it cost to implement your plan?

 How will you secure the necessary funds?

 When will this initiative pay for itself and start making money?

599 – Board Brief Checklist Page 3 of 3

JWI 599: Business Analytics and Capstone

Board Brief Checklist

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University.

Additionally, you should share data related to why your plan is the best use of the financial resources of your organization.

Use the budgeting tools you have learned about including NPV, IRR, Break-Even and Payback to help you communicate a clear financial picture to your Board.

 How much profit will the company earn when you successfully execute the plan?

Competitive Advantage Your Board will expect a clear explanation of what your plan will accomplish to strengthen the “economic moat” surrounding your business.

Keep your synopsis at a high level and make sure you demonstrate how your strategy clearly aligns with the mission of the organization.

 How will this initiative put your company ahead of the competition?

 How will it create a long-term sustainable competitive advantage?

 What will keep your competitors from just copying your moves?

Risk Mitigation A Board presentation from the CEO can’t be all about the good with none of the bad. Yes, you want to convince the Board that your idea is the right one and you are the one who can make it happen, but you also have a responsibility to educate the Board about the risks relative to the rewards and the steps you will take to manage those risks. This includes threats from outside the organization such as what competitors can do to keep you from achieving market leadership or forces that are impacting the larger economy.

 Summarize the risks (from inside and outside

forces) that could undermine the success of you plan

 Explain to the Board how these risks have been assessed and how your plan offers the right balance of risk and reward

Summary or Wrap-Up

Keep it short and sweet, but pull the pieces together. Bringing everything back to the Mission is a good way to end a Board Brief.

 Include a “call to action” – this is usually a reminder of the request for approval being sought at the upcoming meeting

599 – Board Brief Checklist Page 1 of 3

JWI 599: Business Analytics and Capstone

Board Brief Checklist

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University.

Use this checklist as a guide when you are working on each of the first three assignments for your Capstone Project. It will serve as a reminder of the key content areas and the qualities of a well-written Board Brief. Note that the components listed below are not a direct match for each topic in your assignments. That is not its purpose. While the elements of an effective Board Brief are fairly consistent, the sequence and specific content will vary somewhat depending on circumstances.

Board Brief Component Key Features

Executive Summary Include a clear executive summary (AKA “elevator pitch”) for your brief. A good summary will help focus your audience’s attention. Remember, you are telling a business story not crafting a piece of literature. Your goal is not to let the story just unfold as it goes. Tell your audience right from the beginning where the brief is going and what actions you are proposing. Note: An Executive Summary is best written after the brief is fully developed in order to capture the most significant findings, recommendations and conclusions.

 Capture the big idea of what you want to say

 Frame the problem/opportunity

 State your vision for the organization and the

context for your plan

 Outline a high-level snapshot of how your proposed changes will increase the organization’s competitive strength

 If there is an “ask” (such as a vote at the next meeting), make note of that in the executive summary so that Board members know why they are reading the brief

Data When presenting complex information to a non- technical audience, you must Identify key data relative to the problem or opportunity. Don’t overwhelm your readers by providing page after page of numbers. This may be needed for other types of reports, but not for a Board Brief. Use good judgment in highlighting the most critical data in the main body of the brief. If there are additional data sets that include important information, but are likely to only be reviewed by a few people with specialized knowledge, include these in an appendix (or even in a separate document).

 Recap of the data you have gathered and analyzed

 Document the sources of the data

 Summarize and communicate the data in a clear and meaningful way; show how the data support your position

 Make good use of visuals to illustrate your findings

 Identify areas where data may be missing or incomplete; explain the impact of missing data on your analysis – remember, you will never have complete data and that’s okay,

599 – Board Brief Checklist Page 2 of 3

JWI 599: Business Analytics and Capstone

Board Brief Checklist

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University.

The data that are most important will, of course, vary depending on the specific focus of the brief, but should include qualitative and quantitative data on your organization, competitors and the marketplace to support the strategy you are proposing. It is critical that you make good use of charts, tables and other visual supports to display your data. This will help your audience to more easily understand the patterns, trends and anomalies in the data.

but you need to convince the Board that the data you do have are sufficient to make an informed decision

Implementation Plan Craft a clear map of what will happen and when. This should include actionable steps that identify and align objectives, actions and milestones. Use good judgement in determining the level of detail to provide. Your Board will not need to know specific personnel decisions in every department or the exact specifications of a new piece of equipment you will be purchasing. They need to see a “big picture” overview of how you will turn your plan into a reality. Note: It is likely that Board members will come back to you with additional questions on certain areas of the plan. That’s okay. As you continue to work with your Board, you will learn where different members want to dig deeper, and your board briefs will evolve to address those needs.

 Identify key goals and the actionable steps to achieve your desired outcomes

 Include key milestones

 Include a (proposed) timeline for each milestone

 Identify personnel or organizational changes necessary to accomplish the plan

 If additional training will be required, include a high-level overview of how the training will be delivered

 Identify changes in infrastructure, facilities and major equipment purchases – Note: do not include the financials for these in your implementation overview; address these in your financials section

Financials Your initiative is not going to get approved unless you can demonstrate a positive return on investment. In preparing for your Board Presentation, you must address key financial questions for Board such as projected revenue, fixed and variable costs and ROI.

 How much will it cost to implement your plan?

 How will you secure the necessary funds?

 When will this initiative pay for itself and start making money?

599 – Board Brief Checklist Page 3 of 3

JWI 599: Business Analytics and Capstone

Board Brief Checklist

© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University.

Additionally, you should share data related to why your plan is the best use of the financial resources of your organization.

Use the budgeting tools you have learned about including NPV, IRR, Break-Even and Payback to help you communicate a clear financial picture to your Board.

 How much profit will the company earn when you successfully execute the plan?

Competitive Advantage Your Board will expect a clear explanation of what your plan will accomplish to strengthen the “economic moat” surrounding your business.

Keep your synopsis at a high level and make sure you demonstrate how your strategy clearly aligns with the mission of the organization.

 How will this initiative put your company ahead of the competition?

 How will it create a long-term sustainable competitive advantage?

 What will keep your competitors from just copying your moves?

Risk Mitigation A Board presentation from the CEO can’t be all about the good with none of the bad. Yes, you want to convince the Board that your idea is the right one and you are the one who can make it happen, but you also have a responsibility to educate the Board about the risks relative to the rewards and the steps you will take to manage those risks. This includes threats from outside the organization such as what competitors can do to keep you from achieving market leadership or forces that are impacting the larger economy.

 Summarize the risks (from inside and outside

forces) that could undermine the success of you plan

 Explain to the Board how these risks have been assessed and how your plan offers the right balance of risk and reward

Summary or Wrap-Up

Keep it short and sweet, but pull the pieces together. Bringing everything back to the Mission is a good way to end a Board Brief.

 Include a “call to action” – this is usually a reminder of the request for approval being sought at the upcoming meeting