Strategic Planning Without Micromanaging the CEO
Board directors often fret about how to engage with strategic planning without micromanaging or overstepping their roles. The long-running planning processes and three to five-year time frames have been replaced by strategic frameworks that set out the priorities of the organization. Business plans that combine operational and programmatic goals with financial forecasts and annual plans with clearly defined timelines and metrics are now more frequent.
But a board focused on its oversight responsibilities must to be involved in defining strategies, comprehending the strategic initiatives that are taking place, knowing that there will always be instances that require a lot of attention from the Board and establishing an action plan to monitor the strategy. This article discusses ways to accomplish all of this while allowing the Board to be involved in strategic discussions and be productive to them.
Our article on facilitating the board’s strategic planning session is among the most read articles on this site. This article addresses an important problem that is raised frequently in this field: where the board draws the line between managing strategy and running the company. This is an important discussion, because if the Board believes that its job is to stamp any plan given to it, it’s in danger of becoming a ‘rubber stamp’ board. To avoid this, it’s best to have an open dialogue between the board and management about site web the strategic issues that they think are most crucial. The board can help define the issues, and management will be more willing to accept suggestions that improve and improve the problem-solving process.