Board Management Strategic Planning

Strategic planning for board management isn’t for the faint of heart. It requires a lot of thoughtful reflection and questioning in addition to the courage to question the status established. It can be particularly difficult when a board has been in the habit of having management run the show and merely rubber-stamping their decisions.

One of the first steps in effective strategy planning is to determine the approach your board will take to the process. Some boards might prefer to rely heavily on and act as supervisors of management, while other boards might take on a role of co-creative in which they collaborate with the CEO in strategic decisions.

In either case it is crucial to ensure that your board understands its role in a clear and precise manner. This will ensure that the board is actively involved and that its input is valued.

Another important step is to establish the proper strategic plan metrics to monitor the progress of your business. This will allow you to determine if your plans are effective, and give you confidence that you’re on the right track to success.

As part of your strategic plan, it’s equally important to evaluate the risks associated with your company’s objectives and to ask if they are worth taking. It can be a difficult task, especially if it’s contrary to the conventional wisdom or even an individual bias. However, the more you are able to raise uncomfortable issues in a productive and respectful way, the more likely you will succeed.

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