The strategic agenda is a tool to help your board achieve its objectives. However, it is not the only factor you should consider – it is essential to ensure that board members are involved in generative discussion that leads to informed decisions.
The right agenda can help you achieve success in your business regardless of whether it’s a frank discussion about the board’s performance, a thorough analysis of a particular operational problem or a presentation of the new program. This article will teach you how to develop a strategic agenda for your board that will help increase its effectiveness without wasting time with unnecessary operational details.
There isn’t any one-size-fits all plan for agendas for boards The best practice is to ensure that you prioritize issues according to strategic goals and leave reports and other old business until the conclusion of the meeting. In addition, providing board members with goals and desired outcomes prior the strategy day can help keep their attention on the main issues, reduce the length of meetings and avoid the possibility of overcrowding agendas.
Also scheduling two annual strategic retreats rather than one may allow for more in-depth discussion and strategic thinking. It may also be beneficial to include experts from outside the industry on the agenda to spur discussion and encourage a deeper level of strategic thinking by directors. It is essential to clearly communicate all the meeting procedures and requirements including the procedure to vote and decision-making to your board prior to the strategy day to ensure they are prepared.