ABSTRACT
How do effective directors ensure that the strategy is appropriate and deliverable for the long-term success of the organisation?
Based on a framework of global corporate governance best practice, which can be used in all organisations anywhere in the world, this chapter of Questions To Ask (QTA) in the boardroom gives a high-level but succinct introduction to organisational strategy.
All too often, strategy is difficult to define; however, it is not the same thing as vision or mission. The mission should lead and be intelligently aligned with the vision; however, not everyone understands the differences and nuances between the two. The vision should be a collective view based on solid strategic analysis rather than being decided by the ambition of one or a few. The vision should be sufficiently ambitious, different, well understood, and supported. Values should be sufficiently decomposed to clarify their true meaning and be regularly tested in terms of them supporting the vision and purpose of the organisation.
The chapter’s introduction leads into outlining the key Questions To Ask in the boardroom, giving the reader further insight into the many facets of strategy decision-making, implementation, and ongoing review.
