Are You Asking the Right Strategy Questions? Are the Strategy Roles Clear between the CEO and the BOD? Are you promoting Strategy Execution as well as Firm Performance?
As a board member, you must oversee companies that are growing in complexity. Globalization, technology changes, and constant market changes contribute to the complexity of the firm as well as the objective of strategic growth. And yet, with increased activism and the current governance climate, it is no wonder that boards are reported to spend more than 80% of their time on operating reviews and compliance matters and relatively little time on strategy.Most public boards assume that the CEO has responsibility for developing strategy while they have oversight responsibility. With institutional investors, Private Equity members, and venture capital partners asserting themselves in boards today, development of strategy is often driven by the board. Whether driving strategy or providing strategic oversight, board members need to understand the company’s strategy and monitor its execution. They need a comprehensive process to fully engage in strategy, especially since the members will be governing firms in industries or with technologies in which they are not experts.We help our board clients focus on strategy issues as well as compliance, compensation, and succession issues. As active board directors in your board or consultants for your board, we help you by using a proven framework to:
- Clarify strategy roles between the CEO and the Board
- Implement an approach to strategic engagement by the board
- Facilitate the strategic board retreat
Advisory Services include:
Nonprofit board members have many roles to fulfill. They set, guide and monitor the organization’s adherence to its strategic vision, mission, and guiding principles. They are responsible for fiduciary duties including the financial stability and sustainability of the organization. They select and evaluate the Executive (CEO, President, Executive Director) and assess her/his performance. Their duties include ensuring legal and tax compliance and filings. They are also links to the community and, as such, play a key role in fund development.Boards often struggle to find the optimum support role, leveraging limited time availability for maximum impact. Because the needs of board makeup will vary by organization, our approach to supporting the efficacy of your board function is tailored to address your current and future needs. Colton Group Principals serve as board members and as such, bring practical experience to analysis and execution of board recruitment, development, and governance issues.Nonprofit Consulting Services include: