Board directors are often concerned about how to participate in strategic planning without micromanaging the CEO or stepping outside of their role. There has been a move away from three to five year time horizons as well as long planning processes toward strategic frameworks that define the organization’s priorities and business plans that mix operational and programmatic goals along with financial forecasts and robust annual plans that are clear in their timelines and metrics.

A board that is focused on its oversight responsibilities must to be involved in defining strategy, understanding the strategic initiatives that are taking place, knowing that there will be specific situations that require substantial attention from the Board and devising a monitoring plan for the strategy. This article outlines how to accomplish all of this in a manner that allows the Board to be part of strategic discussions and assist in them, while avoiding the common mistakes that can like this cause problems with strategic management for all organizations.

One of the most well-loved pieces on this site is our blog on how to conduct the strategic planning session of your board. This article addresses a question that is often raised in this area: how the board should decide between implementing corporate strategy and implementing its own. This is a crucial discussion because when the Board believes that its role is to approve any plans that are presented to it, it could be at risk of becoming a rubber-stamp board. It is important to avoid this by having a straight conversation between the board and management on the strategic issues that they consider to be the most important. The board can then assist to frame the issues, and management will be more willing to accept suggestions that improve and improve the problem framing.