Strategic Planning Without Micromanaging the CEO

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Board directors often worry about how to engage with strategic planning without stepping over or micromanaging their duties. There has been a move away from three to five year time horizons and long plans towards strategic frameworks that articulate the priorities of the organization boardmeetingsolution.org/good-governance-practices-and-rules-for-online-board-meetings/ and business plans that mix operational and programmatic goals along with financial forecasts and solid annual plans with clear time frames and metrics.

However, a board that is focused on its oversight duties needs to be involved in the formulation of strategies, analyzing the strategic initiatives that are taking place, recognizing that there will always be situations which require a significant amount of attention from the Board and creating an appropriate monitoring plan for the strategy. This article discusses methods to accomplish this while allowing the Board to be a part of strategic conversations and contribute productively to them.

One of the most popular articles on our site is our post on how to facilitate an annual strategic planning session for your board. This article focuses on a topic that is frequently raised in this space and that is how the board should define the line between managing corporate strategy and implementing its own strategy. This is a crucial discussion as if the Board believes that its responsibility is to rubber-stamp every plan that are presented to it, it’s at risk of becoming a ‘rubber stamp’ board. To avoid this, it is best to have an initial discussion between management and the board on the key strategic problems they believe are the most critical. The board can help define the issues, and management will be more willing to accept suggestions that improve and improve the way they frame problems.

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