{"id":1668,"date":"2019-09-01T19:27:00","date_gmt":"2019-09-01T18:27:00","guid":{"rendered":"https:\/\/www.theofficialboard.com\/best-articles\/?p=1668"},"modified":"2019-11-01T13:49:56","modified_gmt":"2019-11-01T12:49:56","slug":"seven-steps-to-a-more-strategic-board-what-ceos-need-to-know","status":"publish","type":"post","link":"https:\/\/www.theofficialboard.com\/best-articles\/2019\/2019-08\/seven-steps-to-a-more-strategic-board-what-ceos-need-to-know\/","title":{"rendered":"Seven steps to a more strategic board: What CEOs need to know"},"content":{"rendered":"\n

Viewed in Deloitte Insights.<\/em><\/a><\/p>\n\n\n\n

How much do we really know about what makes a successful corporate board of directors? To be sure, we could stand to know more. <\/p>\n\n\n\n

In an effort to add to this knowledge base, Deloitte<\/a> initiated 50 conversations with Fortune 1000 CEOs about their perspective on corporate boards. A few themes emerged:<\/p>\n\n\n\n

First, the board of the future, these CEOs say, will be focused largely on strategy, and the burden for making the board effective falls on the CEO<\/strong>. \u201cThe days of boards being a collection of the CEOs best friends are behind us,\u201d Deloitte Insights<\/a> reports. <\/p>\n\n\n\n

As one CEO told Deloitte, \u201cWhen a CEO complains about the board not doing much for them, in a sense, it is the CEO\u2019s own fault for not having taken advantage of the fact that the board can be an ally and a strategic consultant.\u201d<\/p>\n\n\n\n

Second, central to board success is the CEO being transparent<\/strong> with it. <\/p>\n\n\n\n

As one CEO put it, \u201cI am very honest about the things that are problematic, as long as [directors] don\u2019t kill me for telling them things aren\u2019t perfect. It\u2019s been refreshing for the board. You don\u2019t have a company this size, and everything is perfect. It\u2019s just not that way.\u201d <\/p>\n\n\n\n

Third, while human instinct might be to see tension with the board as a negative, disagreement is ultimately inevitable\u2014and CEOs should embrace it, as long it can be remain constructive.  <\/p>\n\n\n\n

Sometimes, it is perfectly fine to acknowledge that more information is needed to build consensus and make strategically beneficial decisions. <\/p>\n\n\n\n

\u201cFor example, if a board is divided over the need for a particular capital investment, identifying and naming the tension<\/strong> can clear the path toward identifying the underlying beliefs and assumptions in play, discussing what data is required to test them<\/strong>, and then deciding when and how to get that data,\u201d Deloitte writes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Viewed in Deloitte Insights. How much do we really know about what makes a successful corporate board of directors? To be sure, we could stand to know more. In an effort to add to this knowledge base, Deloitte initiated 50 conversations with Fortune 1000 CEOs about their perspective on corporate boards. A few themes emerged:… More<\/a><\/p>\nRead more...<\/a>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[178],"tags":[179,151,180],"class_list":["post-1668","post","type-post","status-publish","format-standard","hentry","category-2019-08","tag-board","tag-ceo","tag-deloitte"],"yoast_head":"\nSeven steps to a more strategic board: What CEOs need to know - The Official Board\u2019s Reads<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theofficialboard.com\/best-articles\/2019\/2019-08\/seven-steps-to-a-more-strategic-board-what-ceos-need-to-know\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seven steps to a more strategic board: What CEOs need to know - The Official Board\u2019s Reads\" \/>\n<meta property=\"og:description\" content=\"Viewed in Deloitte Insights. How much do we really know about what makes a successful corporate board of directors? To be sure, we could stand to know more. In an effort to add to this knowledge base, Deloitte initiated 50 conversations with Fortune 1000 CEOs about their perspective on corporate boards. A few themes emerged:... 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