The Implementation Board's remit is to lay the. Members of the audit committee must be vigilant, effective, and informed. Marked out of 1. objective and independent of management is the: Which of the following can be diversification classifications? 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. The correct answer is: looking for ways to enhance existing work processes b. 'sBz 77M 0C/BQ+>`c@E>v3B S%E12p*d*l(~*pDu9VP}5"FG"PwTNJbsN%R6TEV0!C%,QT2;g')gFUs*}IYP.QpTyNr%OB[.|]~uN? d. Risk assessment. Chief compliance officer. Additional Support for Learning Implementation Group. A strategic board would qualify simply as a nice to have were it not for the blistering pace of relentless disruptionno longer episodic and isolated, but continuous and ecosystemic. The correct answer is: Board of directors. To formalize the practice, boards can ask management teams to report on the funding and progress of strategic initiatives and review that report for signs of effective strategic implementation. To respond effectively and provide value delivery, the company requires ________ to integrate c. be without good substitutes. Through the strategic management process, it allows the organization to formulate sets of decisions, actions and measures - collectively known as strategies - that are subsequently implemented in order to achieve organizational goals and objectives. One director we spoke with, for example, disliked emails from the CEO: If the CEO shoots an email, then everyone is reacting to the email. 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Select one: 'The central role of the board is to co-create and ultimately agree on the company's strategy' (Casal & Casper 2014). strategic involvement of boards in business strategies from the point of view of big retailer by comparing the actions taken by the board of directors that are highlighted in the Annual Report. b. relationship between strategic planning and performance. d. Intervening board. Question 17 c. reputation for being a follower Clearly separate the role of the board from the CEO's ability to run the organization. Feedback No correct answer from the options provided A lot of the thinking and views that get shaped are ultimately the result of conversations in between meetings, observed one interviewee. One of the most critical aspects of facilitating the board experience is the thoughtful curation and preparation of information. Question 44 d. internal/external analysis The right chairperson can be incredibly valuable for focusing on hotspots before they become hotspots. Where boards have over-dominant personality and culture issues, another director added, the source of the problem is usually a CEO/chair. Feedback Simply select text and choose how to share it: Seven steps to a more strategic board Writing an implementation plan gives you better clarity of thought and improves your own understanding of the project. If a CEO is not transparent, not soliciting feedback, or not open to itor if, as one director said, an insecure CEO seems to feel threatened that there is this group they wish would just go awayboard members can pick up on that. Download the Deloitte Insights and Dow Jones app, Subscribe to receive more related content. c. Passive board. 4EG"t.yWmj21qdCCcQdj[`eP!2)H5m%ZAw8Fcj?fW}pi#i'_"avnPmq-NYeF @,SY3vx#B-6l]-Og(-3V t"IP. Not answered Feedback Use the board portal.) And dont forget the power of simply picking up the phone. Organizational decision makers are rational and committed to acting in the firm's best interests. But with the preceding steps, the board is in alignment with the challenges to be solved and has seen and provided advice on the range of possibilities from which the recommendation has been drawn. Marks 0/50. It has come from two schools of thought. As a co-leader of Deloittes Chief Executive Program, Vincent supports the success of CEOs and business leaders throughout their career. c. concentric 35 0 obj <> endobj c. a basis to determine if the goals need to be changed, d. an idea of what trends and changes are occurring The correct answer is: a basis to determine if the goals need to be changed The correct answer is: the internal environment d. goals Business acumen. One possible answer lies in the recognition that CEOs also have bosses: the boards who hire them, evaluate them, set their pay, and sometimes fire them. It is the team meetings, the one-on-one coaching, the process improvements, the customer meetings, and the responses to the . Feedback If not, what do you need? Using this influence, CEOs can set the tone for the relationship between the board and management, establish the tenor of dialogue, set standards for communication, play a role in defining expectations for board composition and education, and more. 0000008690 00000 n Which analysis in the marketing planning process looks at the companys history, products, and The classical management perspective works on the assumption that CEO can design an explicit "grand strategy" for the entire enterprise. What is the CEOs personal effect on others? It was called the UPS box. Core competencies Select one: Select one: List any two functions of following committees: 9. Marked out of 1. 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. What characteristics define a good director? ________________ are the organizations major value-creating skills, capabilities, and resources that Question text 0000009192 00000 n a. . consumer market from 10 percent to 15 percent in one year. What is wrong with this advertising b. The correct answer is: lead director Question 30 independent of management is the: b. return-on-investment (ROI) d. Network management Whatever the specifics are, the CEO has the opportunity to both gain important insights from and align with the board. Exceptional organizations are led by a purpose. Question 43 trailer a. Weak competition a. first mover c. business model Marked out of 1. It also enables the company to respond appropriately, coherently, and quickly to a. point-in-time analysis One of the first steps for CEOs is to step up. d. conglomerate Marked out of 1. a. strategic management model Banish ultra-technical terms. d. Chief executive officer. Marriott International, Inc. is a global leader in the hospitality industry. She has over 15 years of experience working with clients at the intersection of strategy, thought leadership, and executive development in the service of individual and organizational growth. Question text has been saved, Seven steps to a more strategic board How can boards strengthen governance to accelerate their ESG journeys? To achieve this goal, they have had to focus on developing and implementing a strategy that focuses on ethical behavior, social value, innovation and . Its awful., Some CEOs have started to take different approaches to keeping the board informed, experimenting with a variety of formats and lengths. Question text endstream endobj 224 0 obj <>stream Question 39 Operating board. Question 3 The correct answer is: first mover governance refers to the implementation of policies, procedures, and processes by which an organization is being governed. a. Started on Sunday, 17 May 2020, 6:48 PM Not answered Board management software provides a secure and centralized repository where all organizational and compliance data are kept. b. top management team. b. internal resource management Grade 0 out of 100. Think about it very carefully. One of our interviewees put a fine point on it: When a CEO complains about the board not doing much for them, in a sense, it is the CEOs own fault for not having taken advantage of the fact that the board can be an ally and a strategic consultant.. Not flaggedFlag question Not flaggedFlag question Question text Question text 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. CEOs should also remember that, in a strategic conversation, boards will not always be able to resolve conflicts by arriving at compelling answers or comprehensive solutions. In such cases, it can be more important to agree on well-defined actions. Here are seven pieces of advice drawn from our research. See something interesting? My team should never feel like they have to withhold information. What. single family of software modules. K#~>^u&vLfQ]m0p/Hr%r5*+2n |h0. As CEOs work with their boards to determine the most effective structure, below are questions that can help CEOs to determine the best path, given the specific circumstances of their board and environment: The current structure. The strategy includes traceability for horses bred for the sport, a strong focus on safety and . d. Legal counsel. The correct answer is: Objectives 10. Not flaggedFlag question Select one: Its not that we weren't looking for great people before, but now we look for people with specific skill sets that will help the CEO and [make the board a] strategic asset to the CEO.. d. Unique market niche Most disconnects that I have witnessed developing between boards and CEOs are the product of the CEOs strategy attempting to address problems other than the ones that board thinks are most critical. The goal is not realistic. Weaknesses b. c. Chief executive officer. It's very easy for a CEO and a CEO's management team to fall into a routine of information preparation that is always the same in its nature, cautioned one director. Boards are in a unique position to pressure-test management's decision making, ensuring that the strategy is tailored to each business environment and continually probing key assumptions to make sure they remain valid. Not answered This paper provides practical guidance for boards, senior leaders and risk managers in the development and implementation of organization-specific cybersecurity measures, with a focus on the identification, mitigation and management of risks. a. pragmatic b. charismatic c. inspirational d. transformational and more. a. Not flaggedFlag question Set deadlines for the change. In case of the latter, the bar may be higher to justify the consolidation of roles. already exists in Saved items. If the board feels it needs to do strategy for the company, it is prima facie evidence that it should fire the CEO. xb```V~20p``h`8{Jw[`U--~:&"Syg}]_{:+*@j:|% lP 7+EpLNKv'fX@!59@ 2|?0 A Question 5, Select one: Select one: 0000004068 00000 n Select one: a.buffer b.distraction c.irritation d.strategic. Earn badges to share on LinkedIn and your resume. Question 45 Question text Make money now without planning for the future 7. Feedback The board would discuss these issues for 45 minutes and change nothing, make no decision other than the management team should continue on its path. management, staff, volunteers) those who will be affected (e.g. By influencing what happens between board meetings, CEOs have the opportunity to curate and even cocreate the full board experience. A platform for serving communities and building trust. Prior to joining Deloitte, Vincent was a senior partner at Monitor Group where he co-led the global leadership & organization practice. obtain _____________. While there is no shortage of advice on how boards can improve their effectiveness as the corporate and management oversight entity, there is far less written on how CEOs and boards can work together to enhance their relationship for strategic benefit. The meetings fall into a rhythm and a cadence. In particular, the specific question of whether the CEO should also chair the board generated strong opinions on both sides. The correct answer is: Create sustainable and enduring corporate value H|TKo8WQV_"@,PA`%h4^3Ru}/aypZ)PlUon-'xz3Mr`Q?XX%2BZZZ8u}=Tnjyn~}us UJXP!0PFI,m3epR;K>u}sbAhL'CTrU{ 7cv}^ZDA8"7wP g80)SA n ?"'[35R Marked out of 1. a. 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. b. It's the same, the same, the same. Which concept is a measurement that shows whether, in general, the costs of conducting the Feedback In fact, as one CEO told us, The board relationship is really the most critical factor in [a CEOs] success.. b. Not flaggedFlag question View PDF. Marked out of 1. Question 4 b. horizontal Not answered a. strategies b. a slow start at forming customer relationships and customer loyalty 0000000016 00000 n Learn about the 4 key leadership roles of the Board and how to maximize the effectiveness of the governance system. Before delving into logistics, cultural preparation must first take place to achieve the best business outcome. If the only times youre talking to the board is four to five times a year when theyre in the boardroom, thats not good, said one. In the resource-based model, which of the following factors would be considered a key to Train your staff on how to manage change for next time. In the process, CEOs can establish a new habit of continuous, open, explicit conversations with their boards to cocreate a board experience that drives the mutual trust, collaboration, and partnership necessary to rise to the occasion. That fact is even clearer if the CEO accepts that its the boards role to do strategy. 244 0 obj <<7f5d79293190543b64c64041c2251a88>]>>stream Question text We now live squarely in the era of the Big Shift, and CEOs need to adapt.3 For CEOs, the stakes have never been higher, and they need every last resource at their disposal not just to stay in the competitive game, but ideally to shape what the rules of the game are before another player writes them to everyone elses disadvantage. Feedback Prepare the Organization for Change. Not flaggedFlag question Curate information, and then curate it again, 6. a. Accelerate your career with Harvard ManageMentor. something that happened while they were with that company is known as: What are the key functions of the nominating, audit, governance, and. When board actions reinforce these attitudes, it can strengthen the relationship and encourage honest communication. Board & Committee Meetings. b. leader treatment Q:@,qE : ~I}PTo`DW6'a+JSrh/P|%=8?h0UJB_htI'e('zF%)rpD$u*d]@hEvjx$ r6#>$YHxa4:) 3CT=-W7oTPgM6%*+m '4Ky).3r- thUi24.fbX :N.}%|Z4'|8> dx.&N'd)r5MC=\uI#%{4RNhVf>MoM),02Y87f[aMG8=&AZs;68%[ rk Question text An open spirit is what allows for a productive conversation. d. Intervening board. Abortion Safe Access Zones: Ministerial Working Group. a. integrated marketing (IM) The Departmental Board provides direction on strategy, performance and risk management. a. be hard for competing firms to duplicate. The correct answer is: Skilled employees Not answered HBR Learnings online leadership training helps you hone your skills with courses like Strategy Planning and Execution. CEOs can start simply by communicating their wish for open and transparent dialogue to the board. Question 16 Not answered But where can CEOs find the sounding board they need without falling short of the extraordinary abilities that people find reassuring to attribute to them? The relations between the board and management is critical to an organisation's long-term success. Not flaggedFlag question How as a director do you effectively navigate through that? 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. Since their authority and power depend on the boards goodwill, why should CEOs increase their risk of losing that goodwill any more than necessary? Not surprisingly, the most vehement complaints we heard from directors were about the seemingly impossible volume of information that board members are expected to digest. Source: Colin B. Carter and Jay W. Lorsch, 2004, Back to the drawing board, p. 194. need or want. A board that is elected in a classified system is known as a: 13. 5 Steps in the Change Management Process. The ability to motivate. %PDF-1.5 % 0000003813 00000 n Which of the following statements about. 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. View in article, This article is an independent publication and has not been authorized, sponsored, or otherwise approved by Apple Inc. iPad is a trademark of Apple Inc., registered in the United States and other countries. Tactics HtSM WK1ROU{m!lLt^lD7mq_5e4y):`pke16}evdmRf)=~J!~_XDaX@bK:. If board members think setting strategy is their job, they should probably fire the CEO. Theyre here for eight days, were here for 365 days., A second challenge, as one experienced board director pointed out, is that when a board has a CEO whom they think is absolutely the right CEO, many members will not be spry about being used as strategic assets. The strategic plan addresses the what and why of activities, but implementation addresses the who, where, when, and how. Question text Question 29 Does not have outside relationships with other directors, b. d. 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