The key to staying relevant: ongoing strategic planning

As a CEO or Board Director, it's essential to stay ahead of the curve when it comes to the future of your organization. The world is constantly evolving, and it's critical to be prepared for what's to come through ongoing strategic planning processes.

One of the best ways to do this is to engage with senior executives and key stakeholders to get their insights on the top strategic issues that the organization may face in the next ten years.

One strategy that I've found to be effective is to schedule a 15 to 20-minute conversation with a senior executive or someone in charge of a specific area of the organization, during board meetings. During this conversation, ask them to discuss the top 2 or 3 strategic issues they foresee in their area of responsibility in the next 10 years and the implications that may arise if these issues come to pass.

This approach provides an opportunity for the board to have an informed discussion about the organization's strategic plan and whether it's robust enough to address the potential challenges of the future. It helps to keep board meetings interesting and focused on the most critical issues facing the organization, and allows the senior executive to look further ahead than what they may normally do.

Another strategy is to bring in key stakeholders every six months or so and ask them for their perspective on the key strategic issues that they face in the next ten years and what they believe the implications for your organization may be. This type of engagement is crucial as it provides a broad range of insights and helps to keep the organization on track and in touch with the broader environment.

By engaging with key stakeholders and senior executives to get their insights on the top strategic issues, the board can have an informed discussion about the organization's strategic plan and ensure that it's robust enough to address the potential challenges of the future.

Steve Bowman