When I did my Company Directors’ Course with the Institute of Directors in New Zealand on my way to becoming a Chartered Member, I always remember something we were told in one of the sessions.
The facilitator reminded us that, as directors, 85% of our time is spent doing business as usual – developing strategy, holding management to account and ensuring regulatory compliance etc.
That stuff is pretty easy and doesn’t require much intellectual stretch on the part of governors.
The extra 15% of the time, however, is when we really show our mettle and earn our Directors’ fees. Those are the time of change, of crisis and of criticality when we have to step up and make the big decisions for our organisations.
This is one of those times and, as directors, the decisions we make in the days and weeks ahead will secure (or otherwise) the survival of the organisations we direct. Stand up, governors now is your time to shine.