Spending time on developing the strategic direction of a company is one of the most important roles of the Board. Equally important is monitoring both how that strategy is being implemented, and how the operating environment might be changing to affect strategic direction and priorities.
At the end of a board meeting do you feel flat, or energised? Taking note of your energy and whether you feel negative or flat after a meeting can be an indicator that the board is not working effectively and probably not creating value for the company.
From 1 July 2024 (for the previous financial year), certain not-for-profits will be required to lodge a self-review return regarding their income tax exempt status with the Australian Taxation Office.