To be sure, none of the governance insiders that Agenda asked suggested setting up strategy committees to focus on the question. Indeed, according to MyLogIQ, a provider of public company intelligence, that number typically stays below 3% of firms
Pushing Strategy Ahead of the Other Stuff
By: Agenda
October 7, 2019
In private conversations, many board members confide that they’re frustrated that they often run short of time in board meetings without adequately discussing strategy. They say those conversations get short shrift while they spend time making sure their managers are compliant with regulations and are managing risks.
Indeed, three years ago, McKinsey, the management consulting firm, found that 52% of board directors surveyed said they wanted to spend more time on strategy. The topic of strategy was tied for first place with managing talent and succession, in terms of preferred time allotment.
How do some boards arrange their agendas to get it all in? Directors and consultants say that by making strategy a priority, managing time more intelligently and getting the full board and all committees to dissect strategy from their different perspectives, boards can stimulate richer strategy discussions that boost long-term value.
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