BEING a board member is not about attending meetings and listening to well-crafted presentations. It is about challenging assumptions, exposing blind spots, and ensuring the company makes the best possible decisions.
Strong boards ask tough questions — the kind that force management to think harder, justify their choices, and plan for risks they may not have considered.
If a board does not ask the right questions, it risks approving strategies that are poorly thought out, financially unsound, or misaligned with the company’s long-term success. Here are 20 essential questions (Q) every board member must ask when management presents a key issue or proposal.
Q: What facts and numbers prove this is the real issue?
Decisions should be driven by data, not opinions. When management presents an issue, the first question should be:
What hard evidence supports this?
Are we looking at company data, industry benchmarks, or independent reports? Have alternative data sources been considered, or are we just relying on a single internal perspective? This question ensures that board discussions are based on facts, not assumptions. Without it, companies risk making decisions based on gut feeling or narratives that sound plausible but lack substance. This must be asked whenever management attributes an issue to a single cause without solid data to back it up.
Q: Could something else be causing this problem? It’s easy to jump to conclusions, but smart boards do not stop at the first explanation. What if we’re treating a symptom rather than the real cause? Have we tested multiple explanations? Have we ruled out other factors?
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For example, if sales are down, is it truly because of market conditions, or is there a deeper issue-like product relevance, pricing, or brand perception? If employee turnover is high, is it really about salaries, or are there leadership and culture issues at play? This should be asked when management presents a simplistic explanation for a complex issue.
Q: How much money is at risk here?
Every decision has financial consequences. Boards need to understand the impact on revenue, costs, profitability, cash flow, and shareholder value. What’s the worst-case financial scenario? Are we looking at a short-term loss for a long-term gain, or is this a move that could damage our financial health permanently? If management cannot quantify the financial impact, the board has no business approving the decision. This must be asked before approving major expenditures, restructures, or risky strategic moves.
Q: Does this help or hurt our long-term strategy?
Not every decision that solves a short-term problem is good for the company’s future. Will this decision strengthen or weaken our competitive position?
If it does not align with our strategy, why are we even considering it? This is especially important when management proposes cost-cutting measures, acquisitions, or entering new markets. Sometimes, what seems like a good idea today can derail a company’s long-term vision.
This should be asked whenever management presents a plan that deviates from the company’s strategic direction.
Q: Are we solving the real problem or just treating the symptoms? Many companies waste time and money addressing the visible problem while ignoring the root cause. If profits are declining, is it because of high costs, poor pricing, or outdated products?
If we are losing market share, is it about competition, changing consumer behaviour, or something deeper? Without a root cause analysis, the company may implement quick fixes that do not last. This question must be asked when management presents solutions that seem too easy or reactive.
Q: What could go wrong if we go with your plan?
Optimism is great, but unrealistic optimism is dangerous. Every plan has risks and unintended consequences. What happens if our assumptions are wrong? If this fails, what is the downside?
Boards should push for scenario planning and ask whether management has mapped out the second- and third-order effects of their decisions. This should be asked before approving any major strategic move.
Q: How are others in our industry handling this?
Benchmarking is essential. If our response to a challenge is wildly different from our competitors, we need to ask why.
Are we being innovative, or are we making an avoidable mistake? This question also ensures that management is not ignoring market trends that could affect our competitive position. This should be asked when facing market disruptions, new regulations, or strategic shifts.
Q: Are there any legal, ethical, or reputation risks?
Some decisions look great financially but can backfire legally or damage your brand. Are we considering regulatory compliance?
Could this affect stakeholder trust? Will this decision put us at risk of lawsuits or public backlash? Many companies have faced crisis-level scandals because they ignored ethical considerations in their pursuit of growth or cost savings. This must be asked before approving cost-cutting measures, layoffs, or controversial deals.
Q: How will we know if this decision was the right one?
Good intentions do not guarantee good outcomes. What key performance indicators (KPIs) will track success? If we do not measure results, how will we know if we need to adjust? Boards must ensure management sets clear milestones and accountability measures.
This must be asked before approving any new strategy, investment, or transformation plan.
Q: What is the worst that could happen, and are we ready for it?
Companies that fail often do not prepare for worst-case scenarios. What if this strategy fails? Are we financially and operationally prepared? What is our backup plan?
Boards must ensure that risk management is not an afterthought. This must be asked before approving any decision with high stakes.
Q: Who is accountable if this does not work?
Every major decision must have a clear owner. Too often, strategies fail because no one is truly responsible for their execution. Management may present a collective response, but the board must ask: Who will personally answer for this if it fails? Without accountability, problems get buried in bureaucracy. Boards must insist that one or more individuals own the outcome and have clear incentives tied to performance.
If the response is vague — “We’ll monitor it as a team” or “It’s a shared responsibility” — that is a red flag. This should be asked before approving any strategic initiative, investment, or major transformation project.
Q: What is our Plan B if this does not work?
No strategy should rely on a single path to success. Markets change, customers evolve, competitors react, and unforeseen events can derail even the best plans. What alternatives do we have if things do not go as expected? Boards must push management to think about contingencies, fallback options, and exit strategies. If the company is committing heavily to one approach without a backup, it is a sign of rigid thinking and unnecessary risk-taking. This should be asked before approving major investments, acquisitions, or large-scale changes.
Q: What is the impact on employees, customers, and investors?
A decision that looks good on paper can create unintended consequences for key stakeholders. How will employees be affected? Will this impact morale, engagement, or turnover? Will customers react positively, or could this drive them to competitors?
What will investors think, and how will it reflect on our stock price or valuation?
This question forces management to consider the human, reputational, and financial ripple effects of their actions. If they have not thought about this, they are not seeing the full picture. This should be asked when approving restructuring, pricing changes, or cultural shifts.
Q: Are there early warning signs we should watch for?
Boards should never wait for a full-blown crisis to realise something is not working. There should be clear, measurable indicators that will signal if the plan is on track — or if it is failing before it is too late to change course. For example, if the company launches a new product, what should the board monitor — customer adoption rates, churn, sales pipeline data?
If the company is expanding into a new market, what red flags should be watched — regulatory pushback, talent retention,
supply chain constraints?
Boards must ensure real-time monitoring is built into decision- making.
This should be asked whenever management presents a long-term strategy with delayed results.
Why should we believe this is the best solution?
Many executives fall into confirmation bias, pushing for their preferred strategy without seriously evaluating other options.
The board must ask: What other solutions were considered, and why were they rejected?
If management hasn’t explored multiple avenues, they may be making a decision of convenience, not excellence. The best
leaders test their assumptions, challenge their own ideas, and compare different strategies before settling on one.
This should be asked when management seems overly confident about a single option without showing alternatives.
How quickly will we see results, and what milestones should we expect?
Many strategies fail not because they were bad ideas, but because they lacked clear expectations and tracking
mechanisms. Boards must demand specific timeframes, checkpoints, and measurable goals.
How will success be measured at three months, six months, 12 months? If results are not materialising as planned, when will
management adjust the approach? Boards must ensure that progress is tracked, and adjustments are made if needed.
This should be asked before approving any plan that requires long-term execution.
Is this decision based on data or gut feeling?
Executives often rely on experience and intuition, but without data to back it up, gut feeling can be misleading. The board
must ask: Have we tested this assumption with real numbers? Have we done market research? Have we benchmarked
against competitors?
If management cannot provide solid data, the board should press for deeper analysis before approving the decision.
This should be asked when management presents a plan with no clear supporting evidence.
What trade-offs are we making with this decision?
Every decision involves sacrifices. If we allocate resources here, what are we taking away from elsewhere? If we focus on
one market, are we neglecting another? If we push for cost- cutting, what impact will it have on quality or innovation?
Boards must ensure that management is aware of and comfortable with the trade-offs they are making—and that those
trade-offs are worth it.
This should be asked whenever management proposes shifting resources, entering new markets, or cutting costs.
Is this a short-term fix or a long-term solution?
Some strategies look great in the short term but create bigger problems down the road. Cutting costs may improve margins
today but could weaken the company’s competitive position in the future.
Expanding too aggressively could drive revenue growth now but stretch resources too thin later.
Boards must ensure management thinks beyond the immediate benefits and considers long-term consequences. If it is a short- term fix, what is the plan to address the deeper problem?
This should be asked when management proposes quick wins that may not be sustainable.
If we were starting from scratch, would we still choose this path?
This question forces executives to challenge their own biases and consider whether they are sticking with a strategy just because they are already invested in it.
If the company had a clean slate, would they still make this decision? Or are they just trying to salvage something because
they don’t want to admit it was a mistake?
Boards must push for rational decision-making, not emotional attachment to past choices.
This should be asked when reviewing underperforming strategies, projects, or investments.
Final thoughts: Great boards ask the hard questions The strongest boards are not those that simply support management — but those that challenge, refine, and
strengthen decision-making.
Asking these 20 critical questions ensures that decisions are rigorous, well-tested, and strategically sound.
Board meetings should never be rubber-stamp sessions. They should be intellectual battlegrounds where the best ideas rise to
the top, risks are fully understood, and the company emerges stronger.
If you are a board member, start asking these 20 questions at your next meeting. They might just change the future of your
company.
Q: If the company is expanding into a new market, what red flags should be watched — regulatory pushback, talent retention, supply chain constraints?
Boards must ensure real-time monitoring is built into decision-making.
This should be asked whenever management presents a long-term strategy with delayed results.
Q: Why should we believe this is the best solution?
Many executives fall into confirmation bias, pushing for their preferred strategy without seriously evaluating other options.
Q: The board must ask: What other solutions were considered, and why were they rejected?
If management hasn’t explored multiple avenues, they may be making a decision of convenience, not excellence. The best leaders test their assumptions, challenge their own ideas, and compare different strategies before settling on one.
This should be asked when management seems overly confident about a single option without showing alternatives.
Q: How quickly will we see results, and what milestones should we expect?
Many strategies fail not because they were bad ideas, but because they lacked clear expectations and tracking mechanisms. Boards must demand specific timeframes, checkpoints, and measurable goals.
Q: How will success be measured at three months, six months, 12 months?
If results are not materialising as planned, when will management adjust the approach? Boards must ensure that progress is tracked, and adjustments are made if needed. This should be asked before approving any plan that requires long-term execution.
Q: Is this decision based on data or gut feeling?
Executives often rely on experience and intuition, but without data to back it up, gut feeling can be misleading. The board must ask: Have we tested this assumption with real numbers?
Q: Have we done market research? Have we benchmarked against competitors?
If management cannot provide solid data, the board should press for deeper analysis before approving the decision.
This should be asked when management presents a plan with no clear supporting evidence.
Q: What trade-offs are we making with this decision?
Every decision involves sacrifices. If we allocate resources here, what are we taking away from elsewhere?
Q: If we focus on one market, are we neglecting another? If we push for cost-cutting, what impact will it have on quality or innovation?
Boards must ensure that management is aware of and comfortable with the trade-offs they are making — and that those trade-offs are worth it.
This should be asked whenever management proposes shifting resources, entering new markets, or cutting costs.
Q: Is this a short-term fix or a long-term solution?
Some strategies look great in the short term, but create bigger problems down the road. Cutting costs may improve margins today but could weaken the company’s competitive position in the future.
Expanding too aggressively could drive revenue growth now, but stretch resources too thin later.
Boards must ensure management thinks beyond the immediate benefits and considers long-term consequences.
Q: If it is a short-term fix, what is the plan to address the deeper problem?
This should be asked when management proposes quick wins that may not be sustainable.
Q: If we were starting from scratch, would we still choose this path?
This question forces executives to challenge their own biases and consider whether they are sticking with a strategy just because they are already invested in it.
Q: If the company had a clean slate, would they still make this decision? Or are they just trying to salvage something because they don’t want to admit it was a mistake?
Boards must push for rational decision-making, not emotional attachment to past choices.
This should be asked when reviewing underperforming strategies, projects, or investments.
Final thoughts: Great boards ask the hard questions The strongest boards are not those that simply support management — but those that challenge, refine, and strengthen decision-making.
Asking these 20 critical questions ensures that decisions are rigorous, well-tested, and strategically sound.
Board meetings should never be rubber-stamp sessions. They should be intellectual battlegrounds where the best ideas rise to the top, risks are fully understood, and the company emerges stronger.
If you are a board member, start asking these 20 questions at your next meeting. They might just change the future of your company.
Nguwi is an occupational psychologist, data scientist, speaker and managing consultant at Industrial Psychology Consultants (Pvt) Ltd, a management and HR consulting firm. — Linkedin: Memory Nguwi, Mobile: 0772 356 361, [email protected] or visit ipcconsultants.com.
