Boards of Directors and the governance professionals who support them are recognising the critical need to develop Situational Intelligence. We spent an evening together recently exploring how
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July 22, 2016
July 19, 2016
We need a facilitator
In the current volatile, uncertain, complex and ambiguous business environment, many Boards are requesting facilitation of their strategic thinking.
While there are still a few who believe that a magic process will create a strategy from a Board away day, wise directors are co-designing a programme of activities. Robust strategic thinking processes recognise the need to:
Hear insights from a range of stakeholders
Develop a true understanding of what Warren Buffett calls durable competitive advantage
Generate alternative paths to the future
Make strategic choices based on sufficient board intelligence
Develop Situational Intelligence
Good governance relies on scheduling the process effectively to build on the rhythm of the board and the business. This creates dialogue between those with horizon scanning capability and those with a true understanding of operational capability and capacity.
Effective facilitation results from building a common understanding of purpose, process and desired outcomes. With proper scoping and co-design, the board and facilitator build mutual trust and respect and an environment where independent thinking is encouraged, alternatives are properly explored and energy is sustained.