On Day One we find out how much you know about the duties of board directors
- An overview of a board member’s role, responsibilities, legal requirements and what is expected of you by the company
- Being a unitary board and demonstrating alignment
- Defining and communicating a compelling organizational vision and winning strategies
- Minimizing failure – reduce poor strategic choices and failure to execute the organization’s strategies and plans.
- Know the business and its key issues
- Know your board colleagues and who they are: their behaviour, style, agenda, interests
- Know yourself, be clear on your strength and weaknesses
This program is designed to provide board members with the skills and knowledge to develop a winning vision and business strategies that give shareholders value and create a competitive advantage. How should boards make leadership decisions and ensure these become the road maps for developing good execution tactics and measures? How should boards address evolving leadership needs in areas such as board recruitment, board effectiveness, succession planning and managing boardroom and executive conflict for organizational effectiveness? What do boards ask the management team while minimising conflict of opinions?
The changing nature of governance in the global business economy means today’s boards of directors must rethink the way they view, address and communicate strategy. The strategy has become a greater concern for boards, thanks largely to its close link to competitiveness and sustainability – both of which have become harder to achieve in today’s turbulent and hypercompetitive business environment. The strategy is also tied to another important board concern: risk management, which can be defined as anything that prohibits strategy goals from being attained. Strategy competencies have changed from a “nice to have” to a fundamental requirement for all directors, to ensure the board fulfils its expected role. Digitalisation only adds weight to this new requirement, which in earlier days was filled by a few directors, or by executives and consultants. However, the strategy is not something that can be delegated solely to executives – even when they typically play a major role in proposing, executing and evaluating strategies.