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Table of Contents

Strategic planning for board management isn’t for the faint of heart. It requires a lot thinking and reflection, as well as the courage to question what is already in place. It can be particularly challenging when a board is accustomed to let management take the lead and then approving their ideas.

One of the first steps in successful strategy planning is deciding how your board will approach the process. Some boards will prefer to be very involved and serve as supervisors, while others may prefer an active role in which they collaborate with the CEO on strategic decisions.

In either scenario, the important thing is to ensure that your board members have an understanding and a clear picture of its responsibilities. This will ensure that the board is engaged and its input is valued.

A strategic plan metric is another crucial element to monitor the progress of your business. This will allow you to determine if your plans are working, and give you confidence that you are on the right track for success.

It’s crucial to consider the risks that are associated with the goals of your business and ask yourself if they’re worth taking. This can be a challenge especially if you’re going contrary to traditional wisdom or an individual bias. But the more you can discuss uncomfortable topics in a constructive and respectful way and with respect, the more likely you are to succeed.