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There is much debate on the role of the board in setting the corporate strategy. Some say that the board must do the entire thing, others say that it must be those in the management as they handle the business on a regular basis. Yet others feel that the CEO must put in the proposal, merely to be given final approval by the board. The best method though would be somewhere in between. It needs to be a three- step process. At the first stage, the CEO must look out for the board’s suggestions before proposing one himself/herself. Next, the CEO must address the board on strategic possibilities. These need to be scrutinized in detail by the board. Once this is done, the CEO must put in the final strategic choice to the board, for approval. This strategy setting may also be a litmus test for the CEO, as failure to set the right one, would simply mean, a new one would be required.

Source:https://hbr.org/2018/12/the-boards-role-in-strategy

Uploaded Date:07 January 2019

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