Getting Strategic
Julie Garland McLellan
Confidential expert advisor to boards and directors ★ Practical governance for better outcomes ★ Director and Board performance ★ Author ★ Speaker ★ Facilitator ★ Mentor
Some boards appear to be effortlessly more strategic than others.
On closer inspection there are a number or easily replicable practices that enable operating at a strategic level. Good board papers that focus on the key issues without waffle or details underpin confident strategic decision-making; paper writing can be taught and learned. Clear delegations and precise timely reporting of actions give the board confidence that the governance framework is fit for purpose and applied as intended. That confidence removes much of the ‘day to day drudgery’ from the board agenda and frees up time for more strategic discussions.
A strategic annual agenda allows a board to have discussions about trends and developments before decisions are required; allowing confident decision-making at a later date, as well as time to verify and assimilate information. A strategic plan that incorporates board and executive insights to a coherent set of activities allows the organisation to respond to the environment rather than reacting and requiring constant readjustment of trajectory. Building a strategic agenda and plan is process that requires time; time that has been saved by removing the operational detail from reports to focus on stakeholders, competitors, technology, and societal change.
This virtuous cycle of focussing at the right time, at the right level, and on the right things, steadily increases the gap between the strategic and value-adding boards and the rest.
Is your board strategic?
What is the necessary first step to breaking the fixation with operations and making your desired strategic contribution?
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“The Board Whisperer”
6 年I am on three boards. Level of strategy that is discussed only takes one individual asking strategic questions. Boards that always ask operational questions are never a strategic asset. Leadership in the boardroom requires courage, by someone! Ask and you shall receive.
Aligning Business Teams
6 年All great insights. Then, the people and constructive contention; the courage to speak their minds, respectfully.
Non Executive Director, Regulatory Affairs, Compliance, Risk, Quality Management consulting.
6 年Being on top of knowing your cash position, risk appetite and the acquisition landscape that might just hold your next significant opportunity- as well as all that Cam Brinsdon has described...in my opinion.
Not relying on management as the source of info about the market in which you operate and where the business is positioned within that market. Interacting with owners/shareholders or institutional investors to better understand their priorities and the context in which the business operates. Having an online 'home' or repository for retaining key strategic documents and research papers and articles of significance.?