Strategic Planning Without Micromanaging the CEO

Board directors often fret about how they can engage in strategic planning without micromanaging or overstepping their responsibilities. The lengthy planning process and three- to five-year time horizons have been replaced by strategic frameworks that set out the organization’s priorities. Business plans that integrate goals for programmatic and operational aspects with financial forecasts, and solid annual plans with precise timelines and metrics are now more common.

A board that is solely focused on its oversight duties must be involved in the development of strategy, comprehending the strategic activities that are taking place, and acknowledging that certain situations will always require the Board to be attentive. They should also formulate an effective strategy monitoring plan. This article discusses methods to accomplish this while allowing the Board to participate in strategic discussions and contribute positively to them.

One of the most popular pieces on this site is our post on how to facilitate the strategic planning session of your board. This article addresses a crucial issue that arises over and over again in this area where the board must draw the line between managing strategy and running the company. This is an important discussion because if the Board believes that its role is to approve any plan submitted to it, it could be at risk of becoming a ‘rubber-stamp’ board. It is important to avoid this by having a straight discussion between the board and management on the strategic issues they consider to be the most important. This will enable the board to aid in defining these issues and for management to be open to suggestions from the board that improve and refine the problem-solving process.

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