The Board’s Role in Strategic Planning

The Board’s Role in Strategic Planning

Whether the board decides on strategy or the board is waiting for management to establish it the board must be clear about what its role in the process of strategic planning. This is because it can affect the overall performance of the board and the way in which the company manages its resources.

This means that boards must determine what their strategy actually means and then decide if they wish to be supervisory, co-creative or supportive in their involvement. The board must be aware that the roles they play will shift as the context changes. In the case of a crisis, as an instance, focusing solely on customer satisfaction may not be the best option when safety and reputation of over here employees are at stake.

The board should also look to enhance the value of a strategic plan by challenging the status quo. Here is where the board has an chance to make an impact, and show its leadership skills. It’s also crucial for the board to take into consideration the risks that come with the strategies that management is presenting and start discussions about these issues.

It is important to have access to a platform that allows the management and board members to collaborate securely during the strategic planning phase. This is where a reliable board portal like BoardPro is a great option. This will allow boards to move past the traditional death by PowerPoint”that is the norm at the majority of board meetings. It will help them draw up more effective strategy plans.

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