The Effective Board
The Effective Board: Strategic Stressing
As many boards think ahead to their strategy away day, they may be looking for different ways to liven up the discussion and get new insight. So it’s perhaps a good time to think about what you can do to consider different scenarios and the “what ifs?”. Financial institutions are used to stress testing – but even there it may not reach the boardroom, being seen as a regulatory response rather than a strategic tool. And other types of business can also benefit from “kicking the tyres” of different short and longer term scenarios. If done well it provides a very useful backdrop to the strategic review. But it’s quite easy to do it badly, dragging the board into too much detail and making it all seem a bit pointless. Here are a few points on what can be helpful…and what to avoid.
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For us, good governance is about good performance.
Yes, compliance matters. But our work is about helping you make sure your organisation…is led effectively by a board that adds value…is kept under control through risk management and assurance frameworks that meet your needs…and is “doing the right thing”.Contact