a. lead director Not flaggedFlag question c. Strategic management. something that happened while they were with that company is known as: What are the key functions of the nominating, audit, governance, and. List any two functions of following committees: 9. The correct answer is: Compliance with law and regulations. The purpose of the implementation board is to have strategic oversight and provide support via a hybrid approach to successful and practical operational implementation of "Healthy Workforce. Question text The answer is easy at the end of the spectrum at which the board claims it should do strategy. Generally, it should involve as appropriate: those who will be implementing the plan (e.g. A key challenge for CEOs is how. endstream endobj 224 0 obj <>stream Study with Quizlet and memorize flashcards containing terms like A, The primary responsibility for effective strategic leadership of the organization rests with the a. board of directors. Board of directors. One-on-one conversations, said a CEO with whom we spoke, give a CEO opportunities to have casual conversations and open dialogue without the formality, pressure, intensity, and performance assessment of a board meeting. Beyond merely building an interpersonal bond, sharing information with board members throughout the year helps them feel like trusted colleagues and reduces the risk of surpriseswhich is important because being taken by surprise can really sour [a boards] relationship with the CEO, whether or not the CEO had anything to do with it. Some CEOs email periodic updates that cover high and low points of the week or month, or weekly Sunday memos to the board that incorporate news about developments in the industry or current articles of interest. d. One who has answers for all situations? Question 30 Question text Question 26 A lot of the thinking and views that get shaped are ultimately the result of conversations in between meetings, observed one interviewee. CEOs will likely be willing to be transparent to the extent they experience mutual respect, trust, and support. 'The central role of the board is to co-create and ultimately agree on the company's strategy' (Casal & Casper 2014). The board has the responsibility of developing a governance system for the business. It is important, when discussions grow heated, to accept and name the tension instead of avoiding it or, worse, allowing it to simmer and grow under the table. consumer market from 10 percent to 15 percent in one year. What is wrong with this advertising endstream endobj In fact, as one CEO told us, The board relationship is really the most critical factor in [a CEOs] success.. Not answered On some of my friends boards, the prevailing view is that strategy is their job and they insist on having board strategy retreats during which they set strategy. d. Organizational A compliance culture can be promoted through the establishment of a centralised __________. The goal is not realistic. Feedback Ideally, as staff and board engage in the process, they commit to measurable goals, approve priorities for implementation, and also make a plan to revisit the strategy on an ongoing basis as the internal and external environments change. a. Question text Some CEOs have even arranged off-site field trips and tours of external organizations (such as Google and Singularity University) for their boards, to powerful effect. d. conglomerate Question 18 It will be apparent that the board's role can and should differ dramatically in these four development phases. Question text Not answered Given the weight of responsibility that rests on their shoulders, its no wonder that CEOs, when observed from a distance, are often depicted in near-heroic terms. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Access more than 40 courses trusted by Fortune 500 companies. Not flaggedFlag question Marked out of 1. _____________. Not answered The relations between the board and management is critical to an organisation's long-term success. b. return-on-investment (ROI) That is less bad but renders the board largely useless in strategy. Marked out of 1. 0000001198 00000 n d. The industry's structural characteristics have little impact on a firm's performance over time. 0 Be honest about our shortcomings. In the former case, the board can happily and intelligently affirm a strategy that it intimately understands and to which it has meaningfully contributed. Earn badges to share on LinkedIn and your resume. Identify the issues on which successful implementation of strategy depends. Question 1 0000000796 00000 n The solution is a fundamental change in the strategy process to engage the Board earlier, and more often. A huge precondition is that you have directors who know what theyre talking about. Feedback Question text A board management software helps streamline meeting processes, and it helps keep the discussions, documents and other information remain secure and confidential. The fact is that both pieces are critical to success. Select one: major business processes (e., order processing, general ledger, payroll, and production) within a These are often determined in combination with the CEO or general manager of the business. Not answered independent of management is the: management implementation of board strategies and the board serving. c. CEO. Background to supply Production and Cost, Interps Notes - Summary Interpretation of Statutes 202, Chapter 12 - Complete - Summary Law of Contract 202[4], Introduction To Micro-Economics Chapter 14, Assignment 2 - the principles of Ubuntu be applied in the criminal justice system to ensure, 11324279 Bentley Smith EUP1504 Assignment 8, Economics 5 MCQ CHAPTER 14 Test bank , with multiple choice questions and memorandum. The Implementation Board's remit is to lay the. Does not have outside relationships with other directors, b. Question text The correct answer is: return-on-investment (ROI) What is a strategic design for how a company intends to profit from its strategies, work processes, Business acumen. The strategy comes to it fully baked and all it can say is either: Yes, we agree or No, we dont. The latter is, plainly and simply, a no-confidence vote and leads directly to the same place as above: the board should fire the CEO, if the CEO doesnt resign first. Select one: The board's role is to advise ministers on the implementation of reform across children's social care . If the board feels it needs to do strategy for the company, it is prima facie evidence that it should fire the CEO. Make money now without planning for the future The correct answer is: Does not have any other relationships with the company other than his or her c. concentric Marked out of 1. 2 Nov 2022 Sustainability How to shift strategy for a new geostrategic era in 2023 13 Dec 2022 Geostrategy He wished for some clarity and consistency. Marks 0/50. For instance, one CEO told us that, instead of slides, he now writes short white papers up to three pages long when he requires the boards perspective on a topic. Not flaggedFlag question Beyond the scope of their business, CEOs and the organizations they lead have increasingly significant and more transparent influence at multiple levelssocietal, cultural, environmental, politicalaffecting vast numbers of stakeholders, including shareholders, employees, customers, and citizens. The more CEOs can develop a profound understanding of each board members personality and temperament, and then influence the design of experiences or interactions that encourage each director to fully engage and productively contribute throughout his or her tenure with the organization, the better the probable results. 7. Question text Not flaggedFlag question learn mor, CA TEST 2 Semester 1 RE- Assessment Timetable, 300+ REAL TIME JAVA Multiple Choice Questions and Answers MCQs, University of the Witwatersrand, Johannesburg, Digestion, endocrinology and reproductive systems (FLG 222), Academic literacy for Economic and Management Sciences (ALL 124), Financial Accounting for companies (HFAC231-1), Bachelor of Arts in Communication Sciences (98051), Law of Succession and Administration of Estates (LPS321E), Mathematics for Natural Sciences (MATH150), Alternative Dispute Resolution 431 (ADR431), Collective Bargaining and Collective Labour Law 503 (JMLV503), Purchasin and Supply management Summary ch, Module 9. Feedback Marked out of 1. Not answered b. be technologically innovative. The correct answer is: Board of directors. d. no control over resources Marked out of 1. Get feedback from your employees. Question text Active Scotland Delivery Group. Managements implementation of board strategies and the board serving as the key decision maker Theres a huge information asymmetry, one chair-CEO said. Instead of these extremes, the right approach is an iterative process in which the CEO is in charge, because it is the CEOs job to formulate strategy, but the CEO wisely gets the maximum amount of advice from the board assuming that the board has useful insights. Launch small-scale pilots for the change. Not answered Our interviews strongly suggest that the absence of fearless transparency may present an even greater risk for the CEO. Boards and C-suites alike have an opportunity to recalibrate their risk framework to focus on a longer-term . Marked out of 1. For example, if a board is divided over the need for a particular capital investment, identifying and naming the tension can clear the path toward identifying the underlying beliefs and assumptions in play, discussing what data is required to test them, and then deciding when and how to get that data. Advising a CEO to be fearlessly transparent with his or her board is a pretty tall order. The correct answer is: a basis to determine if the goals need to be changed What information should we be taking out?, If CEOs want their boards to be more strategic, the relationship dynamics between the CEO, the chair, and independent lead directors become critical. 0000029362 00000 n A MIHRM, MKIM, SHRM Certified HR Business Partner with a successful background spanning over 11 years and extensive exposure as a Strategic Organization Development Consultant, Talent Architect, Performance Management expert and International consultant working on both international and local assignments. a. The correct answer is: looking for ways to enhance existing work processes Question text The aims of the Strategic Management Board are: To ensure that the mechanisms and processes established for the production, maintenance and implementation of competence standard criteria, follow due process. You could only [process] 50 pages, not 500. They like to enforce the theme, We gotta let the CEO be the CEO. This sentiment was echoed by another director who said bluntly, Boards tend to be overly deferential to management. That deference, according to still another director, can become passivity, whereby boards defer to the CEOs judgment until its really not working., A third challenge is that boards may self-censor or otherwise fail to clearly communicate with the CEO, particularly if they anticipate a difficult conversation. 12. Members. To stay logged in, change your functional cookie settings. What is a strategic disadvantage of being a first mover? The correct answer is: Ones ability to be flexible and think strategically. If board members think setting strategy is their job, they should probably fire the CEO. Whatever the specifics are, the CEO has the opportunity to both gain important insights from and align with the board. In one directors words: I have seen repeatedly, in both my CEO career and in my board career, that boards really struggle with giving candid feedback to the CEO. Copy a customized link that shows your highlighted text. Realigned the support of 1,400 mobile devices. They may need to consider new ways to include the management team in board meetings. If a researcher is studying the characteristics of individuals who become leaders, he or she would Corporate governance and the strategic management process Which analysis in the marketing planning process looks at the companys history, products, and It helps define the firm's long-term objectives, action programs and resource allocation priorities. 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