One Minute Governance

159. Everyday People (Condition #8: Demographics)

It’s been a bunch of months since I realized that there’s a really strong overlap between good governance and equity, diversity & inclusion. For a refresher of what I’m talking about, listen back to episode 113. ED&I and good governance may not be identical, but maybe a good way to put it is that you can’t be intentional about cultivating effective conditions for making decisions without being intentional about ED&I. Many people are still quick to point out that diversity of demographic characteristics like race, ethnicity, age, gender, and socioeconomic status among MANY others, won’t guarantee diversity of thought and perspective. My first response to that is “are you *sure* about that?” My more thoughtful response is that even if it’s not a guarantee, it definitely is a shortcut. I mean, a room full of people who look completely different from each other is more likely to have meaningful diversity of thought than a room full of people who look the same. Think of demographic diversity as a diversity of thought hack. Anyway, if good governance is impossible without ED&I, and the diversity part of ED&I is a condition that we have control over, then it’s clear why it belongs in our list this season. This may be one of the more complex conditions because it involves investment in building a community, which takes time. We also have to be conscious of tokenizing and other challenges we might encounter in doing the *inclusion* part of ED&I well. But don’t try to tell me that you have no way to be intentional about demographic diversity in your organization, your executive team, your boardroom, because…well, come on.

158. More and more about less and less (Condition #7: Expertise)

In the previous episode we talked about technical skills, and the potential need for expertise in a bunch of technical areas. Expertise is weird – for a good summary of exactly how weird, check out Range by David Epstein. Expertise also has a strange relationship with overconfidence, including that people with *deep* expertise tend to have way too much confidence in their ability to make predictions in their area of expertise. So, we have to be careful about balancing technical skill with diversity – including maybe having non experts or even naivete in the room. Someone who’s naïve also needs to be brave enough to slow the experts down and say “I have no idea what you’re talking about and I’d rather not move ahead until I understand.” That’s pretty hard, especially in an intimidating place like a boardroom. Anyway, it’s already clear why expertise is one of the conditions that matter for good governance, in part because we clearly have control over who’s in the room. We have at least *some* control over who our executives and board members are. We have a lot of control over whether we engage specialized consultants and who they are. We can think about exactly who we will engage at different stages of our decisions and how we’ll do it. Will we ask our experts to make crappy predictions? Maybe we can ask them to ask *us* questions instead like we talked about back in episode 119. It’s not rocket science. Unless it is, in which case you probably want a rocket scientist in the room, and maybe also a Rocket League expert just to balance things out.

Ground-Up Governance Definition #4 - Delegate

Every Wednesday, OMG will share an audio version of a definition from the Ground-Up Governance platform. 

157. Skills to pay the bills (Condition #6: technical aptitude)

Every organization does complicated stuff that’s hard for the rest of us to understand. Not to mention, every organization has to somehow measure whether it’s doing that complicated stuff well or not, which is even more complicated. Add on top of that the fact that every organization’s complicated stuff affects groups and individuals inside and outside the organization in complicated ways. It’s a lot. It wouldn’t be very good if our CEO didn’t understand how our complex operations worked. It wouldn’t be good if none of the board members understood, either. But, let’s say we have a company that makes robots that perform brain surgery. Do you need your CEO to be technically skilled at surgery AND robotics AND software development in addition to all the regular CEO stuff like managing people and projects and financial oversight etc. etc.? What about the board? How many surgeons do you need on a ten-person board? Is it ten? Zero? How many robotics specialists? Accountants? Lawyers? If it’s zero, how do we communicate the important surgical stuff to them in a way that they will understand and feel confident being accountable for? If it’s all ten, where do we find these people who have technical expertise across so many different – and divergent – factors? Don’t forget that you can always supplement with consultants and stuff. No matter what path you choose, there are trade-offs that affect decision-making conditions.

156. ...and also with you (Condition #5: information style)

I find it really interesting, strange even, that some people HATE sci-fi but LOVE fantasy, or vice versa. And lots of other people hate or love both. All this despite the fact that they are simply styles of worlds in which stories are set. I mean a magical hero *should* be just as compelling whether they’re flying a spaceship or a dragon, right? But that’s not how things work. Style matters. Bland and factual or hilarious and abstract? Long and descriptive or pithy and metaphorical? The fact is that there’s no perfect balance that will engage and inspire everyone. And that’s really the point I’m trying to make here. Some people in the room will be inspired by wizards, and others by Jedi, and there may be no middle ground. This is pretty closely tied to the information medium piece in episode 152. Even though the idea of learning styles like “visual learners” has been debunked, that doesn’t mean that different ways of presenting information won’t inspire different people in different ways. Remember in episode 129 when I said Thing Explainer by Randall Munroe might be the best management book ever? What I like about it isn’t just that it’s got really cool illustrations and simple language (although that’s a HUGE part of it). I also like that he takes very serious and complicated stuff and isn’t afraid to make it a bit silly. The silliness makes it more accessible to me. For others, it might be a turnoff, maybe because it feels patronizing. For me, though, it’s the Goldilocks zone – just right. I learn a lot and have fun at the same time. It’s too much to expect that the people sharing information with your board will be gifted storytellers, but I don’t think it’s unreasonable to step back and ask what the current style or vibe is, and whether trying something a little bit different might help to engage people’s attention and imagination.

Ground-Up Governance Definition #3 - Accountability

Every Wednesday, OMG will share an audio version of a definition from the Ground-Up Governance platform. 

155. Here’s a little story that must be told (Condition #4: information content)

Remember that wish list from last episode about boards wanting information that’s shorter, more detailed, and sooner? What are they *really* asking for? They just want to be able to come to the table knowing as much useful stuff as possible. That sounds pretty reasonable, right? Funny thing about the content of board pre-reads is that a lot of it is stuff that nobody needs to know or wants to talk about. Sometimes that’s because of regulations – meaning the content *has* to be there, even if it’s useless. But sometimes it’s something less defensible, like 40 years ago some director asked for a report on usage stats for VHS vs. Betamax and for some reason management still puts time into crafting that report before every board meeting just. because. we’ve. always. done. it. that. way. So you can imagine why having a bunch of useless information in the pre-reads might be a problem. But it’s not just about editing. We can also think about the balance between reporting on the past and asking questions about the future. We can think about the balance between reporting facts and sharing opinions or forecasts. We can think about the balance between data dumps and pithy summaries. But you can be sure about one thing, every decision about what to include or exclude *will* affect directors’ ability to come to the table ready to engage.

154. ...to rock a rhyme that’s right on time (Condition #3: information scheduling)

I sometimes remind senior executives that their board’s information wish list is that they want it shorter, more detailed, and sooner. And yeah, sometimes those wishes are mutually exclusive. We’ve all heard the famous Mark Twain quote: “sorry for the long letter – I didn’t have time to write a short one.” And it’s true: creating something brief that also has substance takes time and practice…I should know. But I also think we tend to over-index on the timing piece. Think about it: your board doesn’t need all of the material at the exact same time. It’s not like they’ll consume every part of it simultaneously. It makes sense to have deadlines for getting critical material to your board to make sure they have time to actually consume and understand it. Also to get their thoughts and feelings and questions sorted before they come to a meeting. But it’s also not like they will somehow refuse to read, or watch, or listen to something just because it comes through a week earlier or two days later than the rest of their pre-work. In fact, sometimes we get brilliant last minute ideas or urgent information that we just *have* to share at the 11^th hour. It’s cool – don’t worry about it. But for the rest of the information you’re sharing with your board I think it’s worth wondering how you can time the dissemination in ways that might make their lives easier, or might make them more likely to engage in future-oriented thinking. If you provide a written brief on Monday, could it help to follow up on Friday with a voice memo or podcast that sheds additional light on the topic? Could it help to provide weekly updates by video in between board meetings to keep the juices flowing before the main packet goes out? Different approaches will work in different circumstances, but you can start by just trying new stuff!

Ground-Up Governance Definition #2 - Power

Every Wednesday, OMG will share an audio version of a definition from the Ground-Up Governance platform. 

153. Flip the script (Condition #2: information format)

Let’s say you’ve decided to start a podcast to include as part of your board pre-work. You’ve got a lot of decisions to make. Will it be scripted or spontaneous? Will it be one voice – maybe your CEO – or many, like the entire executive team? Will it be short, pithy, and brilliant like OMG, or long, boring and arduous like other podcasts (sorry). Maybe it will be an interview format. Maybe those interviews will be featured exactly as they happened for completeness, or maybe they will be edited to pick out the juiciest bits with some voiceover added for emphasis. And so on, basically to infinity. Pick a medium and the formatting choices are kinda endless, from font and font size, to length, to punctuation styles, to pull quotes. Some of the formatting might be intended to keep the consumer’s attention, and some might be intended to just add fun flair. Some might be intended to make sure specific pieces of information get seen…and retained. You might use one format for communicating facts and another for commentary. What I hope is obvious, though, is that you have *a lot* of control over formatting. I might even argue that formatting can serve you really well, but that if you don’t put much thought into it, it’s probably serving you poorly. So…let’s be intentional about it, shall we?

152. It *is* the message (Condition #1: information medium)

There’s a quote I really like from an article called The Elements of Good Judgment by Sir Andrew Likierman in HBR back in January 2020. Also the article has a beautiful image at the top of what looks like a great gray owl with a super poofy face. Anyway, the quote reads: “As a director of a large listed company, I would get up to a million words to read ahead of a big meeting. Confronted with such a deluge, it’s tempting to skim and to remember only the material that confirms our beliefs. That’s why smart leaders demand quality rather than quantity in what gets to them.” There’s a lot about this quote that I like, but I also see an opportunity missed. It’s just taken as granted that board pre-reads will be, well, pre-READS. Sure, those pre-reads are usually no longer literal physical binders – intimidatingly huge ones, at that – but don’t you find it a bit strange that Mr. Likierman’s focus is only on the amount of information, and not the medium? I mean, I think we can confidently say that people like consuming information through all kinds of media, right? You’re listening to a podcast right now, for instance. Later, you might stream a video on Netflix or Disney or YouTube, or poke through Twitter or Instagram or TikTok. Maybe your team at work does most of its interaction through Slack instead of email or phone or text. Maybe you like looking at your calendar on your desktop computer more than on your phone. Maybe you’re reading the transcript of this podcast instead of listening to it. Anyway, the medium matters. Each of the media I’ve mentioned in this episode *COULD* be an element of your board packet. And all of them are better than a million words in PDF format.

Ground-Up Governance Definition #1: Authority

Every Wednesday, OMG will share an audio version of a definition from the Ground-Up Governance platform. 

151. The latest and greatest definition of ”good governance”

Finally! Season 4 of OMG. Let's start with Matt's latest definition of "good governance"

 

SCRIPT

Welcome to season 4 of One Minute Governance! This season is gonna be a bit different. Well, I mean it’s mostly gonna be the same. 60-90 seconds or so of me talking about governance stuff a couple times a week. The different part is that there’s a season-long theme. Let me explain. My current wording of my definition of good governance (yes, it’s different again) is “good governance is intentionally cultivating effective conditions for making decisions.” I’ve been testing this out on a bunch of different audiences and it’s resonating – for the most part – pretty strongly. But there’s a sensible question that comes up almost every time: “what do you mean by ‘conditions’?” Good question, right? And it’s completely true that the word “conditions” is doing a *lot* of work here. Like, a lot a lot. And the fact is that there are *tonnes* of conditions that affect our decisions – many of which we can be intentional about. So, 47 of the remaining 49 episodes of season 4 will each be about one of those conditions, why it matters, and how we can influence it. These 47 conditions are…not arbitrary, exactly, but certainly far from an exhaustive list. Some may seem obvious, others trivial, and others still that will be left out for no reason other than I didn’t think of them or ran out of time or whatever. Either way, I hope that the journey over the next few months will spark some ideas about how you might intentionally cultivate effective conditions for decision-making in your next board meeting, family dinner, bachelorette party, or whatever. See you in a couple of days!

Season 4 Trailer

Season 4 launches May 1st, 2023

 

SCRIPT

I can’t believe it’s already been like 4 months since we wrapped up season 3 of OMG. I just wanted to check in for a sec to let you know that season 4 is on its way. Soon! Not only that, but it’s gonna be the first “concept” season, with a theme. Yeah, yeah, the whole podcast has a theme, I know, corporate governance, blah blah. But this goes beyond that. Remember how we talked a bunch last season about what “good” governance means – episodes 102 and 140, for instance? Season 4 is a zoom in on the word “conditions.” Seriously, all 50 episodes. And it’s gonna be really fun and interesting, and *useful*. So, set your calendars. Every Monday and Thursday for 25 weeks starting on May 1. That’s, like, almost exactly a month away, so you have plenty of time to listen to the entire back catalog of 150 OMG episodes. If you need even more content to tide you over, head to groundupgovernance.com, where we have over 50 blog posts, 25 podcast episodes, a bunch of videos, and more. Thanks for tuning in. See you in a few weeks!

150. Pro Tip: Use OMG in your boardroom

SEASON 3 FINALE: While you're waiting for season 4, try using OMG in your boardroom.

 

SCRIPT

We’ve reached the end of season three of OMG. 150 episodes. I’ve said before that every time I sit down to write for this podcast I’m afraid I won’t have any new ideas. And sure, it would be a fair criticism to say that I don’t really always have *new* ideas. I do revisit a lot of topics. But I do always feel like I have something different to say, either because I’ve changed my mind or learned something new or am just feeling a bit opinionated and snarky. That inspiration mainly comes from the people in my community. Directors, senior executives, educators, advisors, and sometimes just nerdy weirdos. I get so much insight and energy from the conversations I have with these people, and honestly I probably won’t ever run out of material as long as they’ll keep talking to me. Which brings me to my pro-tip. This pile of 150 episodes of OMG consolidates so many ideas and perspectives that I’ve gathered up over the past couple of years of my governance journey. And even though the stuff I say here may not be “right” or even all that smart sometimes, it definitely *can* act as a useful conversation starter for you, your board, and the rest of your team. Take advantage the privilege I have to speak to amazing people every day by picking out one or two episodes to share with your board and management in advance of your next board meeting. It’ll only take them a couple of minutes to listen, and it might spark some different thinking. I’ll be back in a few months with Season 4. In the meantime, reach out anytime at mattfullbrook.com if you have ideas or questions that you think I should cover next season, or if you have any other ideas to help make OMG even better. Thank you so much for listening. See you soon.