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SIRC Newsletter
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A - F |
| Actions: |
(Tactics, Tasks, Strategies, Initiatives, Operational Objectives)
What an organization needs to do to achieve their stated objectives. |
| Benchmark: |
(Starting point, Industry standard)
A point of reference that can be used to measure progress made over time. Benchmarks can be standards established by law or regulation, or they can be measures of performance at a certain point in time. |
| Business Plan: |
(Operating Plan)
A formal statement of a set of goals, normally developed as part of a strategic planning process. The business plan outlines the plan for reaching the goals and often contains background information about the organization and the financial needs required to achieve stated objectives. |
| Code of Conduct: |
Specifies the behaviours that an organization wishes its members to avoid. |
| Code of Ethics: |
A statement of behaviours that an organization wishes its members to uphold. |
| Confidentiality: |
Board of Directors members are not permitted, either during or after their term of office, to share or use information deemed confidential by the organization. This refers to information that is deemed by some authority or policy as privileged and private, to be disclosed only in prescribed circumstances. Federal laws protect much personal information, as do intellectual property protections. For a board of directors, it is established custom that business discussed by directors in a board meeting is confidential. Directors are expected to respect the confidentiality of board business and to disclose to third parties only that information that a board has determined is not confidential and may be disclosed. |
| Conflict of Interest: |
A Board of Directors member must not let personal interests, the interest of another organization in which he/or she is involved, or the interest of a family member, friend or colleague conflict with those of the organization. In other words, a conflict of interest is present in a situation where a Board of Director member of an organization, or an entity with which he or she is affiliated, has a real or perceived competing interest with the organizations activities. This competing interest may result in the member, or the entity with which the member is affiliated, being in a position to benefit from the situation or in the organization not being able to achieve a result which would be in the best interests of the organization. If such a conflict arises, the Board of Directors member is forbidden from exploiting his or her position. The Board of Directors member must declare their interest and subsequently refrain from any involvement in discussions or decisions around the related decision or contract. |
| Duty of Care: |
Board of Directors members have a duty of care, which is set out in the legislation under which the organization is incorporated. These duties are owed to the members of the organization, and are the duty of diligence (that is, to act reasonably, prudently, and in good faith), the duty of loyalty (to always place the interests of the organization first), and the duty of obedience (to follow organizational policies and to follow the law). Taken together, these represent the director's fiduciary duty of care. |
| Environmental Scan: |
A study and interpretation of the political, economic, social, cultural and technological trends, events and circumstances which can influence an organization, including an assessment of the ways in which these factors may impact the organization. |
| Ethical Stewardship: |
A theory of organizational governance in which leaders seek the best interests of stakeholders by creating high trust cultures that honour a broad range of duties owed by the organization's followers. |
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G - L |
| Generative Governance: |
What is often overlooked in the midst of the urgent and the immediate, and even the strategic, but is important to developing true leadership at the board level; this is the early thinking on 'wicked' problems that helps frame mission, strategy and problem solving and, when done properly, brings the Board in at the very first stages before mission is drafted and strategy proposed. |
| Good Governance: |
Governing so as to achieve desired results, and to achieve them the right way. While poor governance is all too apparent to observers, good governance is usually invisible. |
| Governance: |
The systems and structures that a Board uses to direct and manage its general operations, programs and activities. These systems and structures allow an organization to: hold a board of directors to account; promote fairness and transparency; support stewardship and integrity; and engage members and stakeholders. Governance systems and structures provide the means by which organizations make decisions, pursue mandates and goals, deliver programs and services, and meet legal standards. |
| Key Activities: |
Include the main areas of work that the organization will produce in support of the key directions. These activities will be measurable and must contribute to the achievement of the mission and vision. |
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M - R |
| Mission: |
The core purpose of an organization, expressed in a succinct statement of what the organization does, for whom, and how. Good mission statements tend to be enduring and unchanging. |
| Objectives: |
(Outcome, Results, Priorities)
What an organization wants to achieve. SMART Objectives are Significant, Measurable, Action-oriented, Realistic, Time-related. |
| Performance Indicators: |
(Targets, Milestones, Success/performance measures)
How an organization will know they are making progress/have been successful. SPORTS Indicators are Specific, Pertinent, Objective, Representative, Transparent, Simple. |
| Policy Governance: |
A model of governance in which Boards and directors focus their time and energies on the big picture of governing, strategy and policy. Management and operations are left to staff, who perform these roles subject to limits and boundaries set by the Board of Directors. |
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S - Z |
| Standard of Care: |
In fulfilling his or her fiduciary duties, a director must exercise the skill, diligence and good judgment that can reasonably be expected from a person of his or her knowledge and experience. Where a director has a certain expertise (law, accounting, medicine, engineering) he or she will be held to a standard appropriate for professionals possessing the same expertise. |
| Strategic Directions: |
The priority areas an organization wishes to focus on in order to close the gap between the present and its preferred future (Vision). They provide a clear direction of where the organization is headed. Strategic Directions are ideally stated in a manner that allows them to be easily remembered and referenced. |
| Strategic Framework: |
An organization's foundational statements (Vision, Mission, Values) and key strategic directions. Sometimes, general goals will be identified for each strategic direction. Usually this framework is adopted by the Board of Directors and members. More detailed operational planning follows in behind, and these plans are typically staff-driven and are not member-approved. |
| Strategic Governance: |
The Board and management work together to develop priorities and strategy, and where there is openness to address big picture questions (Is our business model viable? Will our membership base be stable in the next 10 years, and if not what will we do in response? Will we be stronger if we merge with association X?) |
| Strategic Planning: |
A process of defining an organization's strategy or direction, and making decisions on allocating resources to pursue this strategy, including capital and people. Put simply, strategic planning is the formal consideration of an organization's future course. Strategic planning can be used as a management tool, a leadership tool, or both. |
| Values: |
Principles, standards & qualities that define an organization's beliefs. Beliefs that are shared among the stakeholders of an organization. Values drive an organization's culture and priorities and provide a framework in which decision are made. They are often referred to as the glue that connects a mission to a vision statement. |
| Vision: |
A compelling statement of where, or what, an organization would like to be in the future, or what an organization would like to achieve in the future. There are no rules for writing vision statements - what is important is that they inspire those who read them. |
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