Five top skills to develop as a Non-Executive Director
What are considered to be the top five skills of a Non-Executive Director, and how can these areas be developed for professional excellence?
A company's Non-Executive Director is committed to shaping the strategy and direction of an organisation, sitting on the Board and advising on key decisions. Succession-planning, independent oversight and policy development are among the key responsibilities where a Non-Executive Director may have input.
1. Independent mindset
One of the most important things a Non-Executive Director can offer is an outside perspective. This is especially important for determining future business goals and developments. A Non-Executive Director should be able to separate themselves from the organisation and approach issues with a clear, unbiased view.
Often, a Non-Executive Director will have oversight of performance measurement and internal audit. As such, a high level of due diligence in performing their duties and staying informed of industry requirements is expected.
A broad knowledge of regulation and compliance, coupled with personal integrity and attention to detail, differentiates a great Non-Executive. CAs receive exclusive discounts on our CPD training courses.
Being able to assess priorities, read the business environment and craft innovative solutions that have a long-term positive impact on operations is vital.
CA skills can be invaluable to this process and for monitoring the effectiveness of existing strategies. Learn more about strategic management with a dedicated professional development course offered to ICAS members.
4. Industry foresight
Keeping on top of disruptive technologies and other developments in the business / wider industry is essential for informed future-planning. A Non-Executive Director should be able to contribute to the debate with a clear idea of the challenges facing their company in the foreseeable future.
Agility and innovation are priority skills in a changing business environment. Creative thinking can provide unique insight and help break down legacy processes and mindsets to make an organisation adaptable for the future.
Creative leadership is an ever-evolving ability that can serve a Non-Executive Director well.
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