One of the primary aims of a Board is to set the strategic direction of the organisation. Sounds simple enough?Except that businesses constantly get into difficulty and very often this is against a backdrop of frothy economic conditions. Was the Board inept? This hard to believe as many directors tend to be intelligent, hardworking and ethical individuals.
There are many reasons behind company failures but so often the bread crumbs do indeed lead to the Boardroom. Wrong strategy, bad and uninformed assumptions, lack of vision, flawed strategy process, and not enough time devoted to strategic conversations are variables that come to mind. In our work, we also experience that Boards sometimes have the wrong type of strategic conversations.
The following is a list of topics that could be covered
What is strategy?
Good vs bad strategy
What makes a good strategist?
The Board’s role in strategy setting and implementation
Assessing the decision making process
The strategic framework
Generating strategic options
Vetting the strategic options
The use of models
Achieving competitive advantage
Strategic choice and shareholder value
When ethics and business collide
Acquisitions and disposals
Joint ventures and alliances
Service quality as a differentiator
Measurement devices and tools
Making strategy work
Why strategies fail
Managing a crisis