The Board’s Role in Strategic Planning

Whether the board decides on strategy or the board waits for management to decide, the board needs to be aware of what its role is in the process of strategic planning. This is because it will affect the overall performance of the board and the way in which the company manages its resources.

Boards should define what mean by strategy and decide whether they’d like to be involved as supervisors, co-creators or even supporters. It is essential for the board to be aware that these roles will shift as context changes. For instance, a focus on customer satisfaction might not be the best choice in a crisis situation if employee safety or the reputation of the company are in danger.

The board boardmeetingsolution.org/strategic-planning-and-the-role-of-the-board-management/ should also look to enhance the value of a strategic plan by challenging the status quo. This is where the board has the opportunity to change the game and demonstrate its leadership skills. It is also crucial for the board of directors to take into account the risks associated with strategies of management and to initiate discussions on these issues.

Accessing an online platform that allows the board to collaborate with management in a secure manner in the process of strategic planning is beneficial. A good board portal such as BoardPro will help. This will allow boards to move beyond the typical “death by PowerPoint’ that happens at the majority of board meetings. It can help them develop more effective strategies.

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