One area of improvement applicable to a lot of Boards is simply time management and focusing on the key strategic issues. The BHP Billiton Board asks and debates the following question: “If we had to choose three areas to put extra emphasis and time on, what would they be?” Our areas were people development, capital management, and reputation.
Under each of these areas we had further goals. Every year we go back and stress-test whether they are the right strategic imperatives for the Board, whether the action items underneath these goals were being met, or whether they need to change. [From AICD Magazine, May/2013]