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Board Management Strategic Planning

Strategic planning for board management isn’t for the faint of heart. It requires a lot of thought and questions along with the courage to question what’s already in place. It can be difficult when a board has previously been known to letting management run the show and merely rubber-stamping their decisions.

The first step to successful strategy planning is to determine the approach your board will adopt. Some boards might prefer to heavily rely on and serve as supervisors to management, while other boards might work towards a co-creative role where they cooperate with the CEO in strategic decisions.

In either case, it is important to ensure that your board members understand its role clearly and in detail. This will help to ensure that the input of the board is valued and that all board members are engaged throughout the process.

Another important thing to do is establish the proper strategic plan metrics to measure the progress of your company. This will help you verify if your strategic plans are working and will give you confidence that you’re in the right direction to be successful.

It’s crucial to consider the risks that go along with the objectives of your company, and decide if they’re worth taking. This can be a challenge especially if you’re working against the norm or personal bias. The more you can bring up uncomfortable subjects in a respectful and productive manner, the better your chances of success.

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