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Fiduciary, Strategic, And Interpretive Roles Of The Board


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Reminds a university's trustees about fiduciary basics and extends their attention to new strategic roles, with suggestions for action.

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Fiduciary, Strategic, And Interpretive Roles Of The Board

  1. 1. How You Make a Difference How You Make a Difference Northwestern Health Sciences University Board of Trustees November 7, 2009 Ellen‐Earle Chaffee, Ph.D. Association of Governing Boards of Universities and Colleges
  2. 2. Role of the Board Role of the Board
  3. 3. Look Up, Out, Around, Down
  4. 4. Fiduciary and Strategic
  5. 5. Fiduciary and Strategic Fiduciary and Strategic Ensure  E • FIDUCIARY: Are we doing  organization  pp what we are supposed to  fulfills its  fulfills its mission do? Ensure  organization’s • STRATEGIC: Will we exist organization s  STRATEGIC: Will we exist  long‐term  and succeed “forever?” viability
  6. 6. Fiduciary Duty Fiduciary Duty Duty of CARE Duty of LOYALTY Duty of OBEDIENCE • Decide and act in good  • Decide and act in the  • Faithful to founding  faith best interest of the  documents • Prudent person level of  organization, protect  • Obey the law care and support and support Where does it say, “Focus on finances???”
  7. 7. …and once in awhile, maybe… …and once in awhile, maybe…
  8. 8. Strategic is Not Strategic is Not Where are THEY looking, much of the time?? Where are THEY looking, much of the time??
  9. 9. Strategic Topics Strategic Topics • Vision • Results • Strategy • Long term • Concepts p • Business plan p • Resources • Customer  wants/needs • Future • Evidence • Expertise • Competition • Support • Quality • Readiness R di • Efficiency Effi i • Productivity • Brand, positioning
  10. 10. Strategic Questions Strategic Questions • What are we missing? What are we missing? • What would be the 5‐10 year impact? • How does this advance our strategy? d hi d ? • What are the key national trends? • Have you had a [comprehensive physical,  ,g g pp y, ] y vacation, great learning opportunity, …] lately? • Is there anything on your mind that we can  help you think through? help you think through?
  11. 11. Strategic Engagement at NW Strategic Engagement at NW • Academic Affairs Committee topics – Integrative curriculum, faculty development, research,  metrics and progress • Finance Committee topics Finance Committee topics – Recruitment, retention, IT, capital/equipment needs,  financing the strategy, metrics and progress • Development Committee topics Development Committee topics – Financing the strategy, alumni goals, partnerships, metrics  and progress • C Committee on Trustees topics i T i – Balanced Scorecard development, becoming a strategy‐ focused university and board, metrics and progress
  12. 12. Board Staff Indiv. Communication Board‐Staff Indiv. Communication Board of Trustees B d fT University President Board Chair University Personnel
  13. 13. Governance Pyramid G P id FIDUCIARY, STRATEGIC, AND INTERPRETIVE
  14. 14. Integrated Systems Theory INTERPRETIVE Cultural, Social Systems C lt l S i l S t STRATEGIC Biological Systems Bi l i l S FIDUCIARY Mechanical Systems h i l Governance as Leadership: Reframing the Work of Non‐Profit Boards by Richard P. Chait, William P. Ryan, and Barbara E. Taylor, NY:: Wiley, 2004.
  15. 15. Integrative Health Care INTERPRETIVE Encourage, expect, explain, provide…. g , p , p ,p STRATEGIC Are we increasing VALUE for students/patients? Are we increasing VALUE for the university/clinic?  FIDUCIARY Root Cause Analyses Electronic Patient Record El t i P ti t R d
  16. 16. Governance Pyramid INTERPRETIVE Learn, communicate , STRATEGIC Strategic thinking Balanced scorecard FIDUCIARY Policies, audits, consultants