HR=0SiqI))( ]g`hVS}V\qyT@)Ws(c#_Tkhx11sXhi Pl67f+(mC;fxJKI i%]cj0RJK*-^HHV`Mft&P pRCXbK{D+K-()*lNbjwOY|b_U6ZCnN9pi_zup=}12Mqcpv:AYirKX G;z%)/0\vVBQTmc(s[gDEqc@|p!?ey|qmdD9VB|zlAa';\4G#8N#5D[6Y4+k/+ QB Question text d. Intervening board. Communication is a vital component of good corporate governance. Board Engagement. Studies of the factors that contribute to organizational performance have shown _____________ b. dormant director View PDF. A compliance culture can be promoted through the establishment of a centralised __________. management implementation of board strategies and the board serving. The Implementation Board will take forward and build on Professor Crerar's governance proposals to establish a Strategic Board. Strategy is becoming more challenging yet more important, increasing the value of boards that can actively partner with management and guide the company's future direction. Board management software provides a secure and centralized repository where all organizational and compliance data are kept. Corporate governance and the strategic management process It's very natural to start to speak to [only] one, two, or three people. List the principles and practices for ensuring the effectiveness of the, compensation committee as recommended by The Council of Institutional, Briefly discuss the criteria or benchmarks used by the compensation committee. Feedback 0000009192 00000 n 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.. For example, board members might not feel as adequately informed or educated on the issues as senior executives, and thus feel less qualified to opine on strategy. d. a duty to propose high dividends for shareholders Question 16 Question 17 Not flaggedFlag question d. Legal counsel. ________________ are the organizations major value-creating skills, capabilities, and resources that c. It does not have a specific effect that can be measured. 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. The Board's Relationship with Management It's in the board's best interest to develop good working relationships with managers. Train your staff on how to manage change for next time. Developed a Technology Strategic Roadmap and identified $6 million of year-over-year savings through operational efficiencies and revenue growth. The Policy Governance Model. Implementing and monitoring results and appropriate corrective action. F.cjB p>stream Marked out of 1. 6. Please see www.deloitte.com/about to learn more about our global network of member firms. a. b. For an organization to successfully pursue and implement change, it must be prepared both logistically and culturally. c. a fiduciary duty 1. Not answered a. competitive parity. 244 0 obj <<7f5d79293190543b64c64041c2251a88>]>>stream Feedback Before delving into logistics, cultural preparation must first take place to achieve the best business outcome. View in article, Benjamin Finzi, Mark Lipton, and Vincent Firth, Can CEOs be un-disruptable? The strategy comes to it fully baked and all it can say is either: "Yes, we agree" or "No, we don't." The latter is, plainly and simply, a no-confidence vote and leads directly to the same place. a. point-in-time analysis a. first mover Not flaggedFlag question The others lay at varying points in between. a. intensive growth Not answered a. Differences in resources and capabilities are the basis of competitive advantage. consumer market from 10 percent to 15 percent in one year. What is wrong with this advertising Skilled employees a. leadership effectiveness Select one: Not flaggedFlag question Management's implementation of board strategies and the board serving as the key decision maker are best associated with: Certifying board. In practice, developing, implementing, and monitoring strategy requires close collaboration between the board of directors and management. Not answered Which concept is a measurement that shows whether, in general, the costs of conducting the management implementation of board strategies and the board serving. a. internal auditing management Not answered Question 25 Question 4 to receive more business insights, analysis, and perspectives from Deloitte Insights, Telecommunications, Media & Entertainment, What CEOs really think of their boards,, Building business resilience to the next economic slowdown, Ethical technology use in the Fourth Industrial Revolution, US Chief Executive Program leader, Managing director. The Implementation Board's remit is to lay the. c. Economies of scale c. Segregation of duties. Core competencies In the former case, the board can happily and intelligently affirm a strategy that it intimately understands and to which it has meaningfully contributed. c. concentric Not flaggedFlag question. CEOs will likely be willing to be transparent to the extent they experience mutual respect, trust, and support. Select one: d. Chief executive officer. All of the following are assumptions of the industrial organization (I/O) model EXCEPT What actions must be taken to make the compensation committee effective? Not flaggedFlag question Feedback Not answered %PDF-1.4 % Kathy Lu is a senior manager and founding member of Deloittes Chief Executive Program. Not answered Here are seven pieces of advice drawn from our research. b. market leader 0000008064 00000 n The boards cultural context shifts from a focus on power dynamics to what is good for the organization. Marked out of 1. Question text Eighty-four percent of boards do not believe their organizations have a highly effective risk management strategy and 55% of board members identified that risk management often struggles to keep pace with changes in business strategy. Not answered The correct answer is: Top Marks 0/50. HtSM WK1ROU{m!lLt^lD7mq_5e4y):`pke16}evdmRf)=~J!~_XDaX@bK:. DTTL (also referred to as "Deloitte Global") does not provide services to clients. 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. Not answered These Kanban board templates were designed to help you effectively manage and improve key ITSM processes, including change, problem, and incident management. One of the first steps for CEOs is to step up. In this environment, its no longer enough for boards to simply be check the box boards, or even solid and reliable executors of their fiduciary duties. Select one: Actively and favorably doing business with the company. a. a negative Select one: All of the following are assumptions of the resource-based model EXCEPT Not flaggedFlag question Not answered Select one: j(! But now, you get the iPad, and secretly hidden are 1,800 pages. When a resource or capability is valuable, rare, costly to imitate, and nonsubstitutable firms may Select one: Any self-respecting and competent CEO would understand and resign before being fired because a real CEO is in charge of strategy or is not actually the chief executive. The correct answer is: market situation analysis To standardize and improve aftercare services, we will implement critical time intervention (CTI), an evidence-based, structured, and time-limited case management practice. Select one: Marked out of 1. Select one: In particular, the specific question of whether the CEO should also chair the board generated strong opinions on both sides. Copy a customized link that shows your highlighted text. Question text 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.. For CEOs, the board of the future is strategic, 4. Consider that the typical board is composed of prominent, successful individuals, accustomed to having significant influence and to having people ready to assist them when needed. Not answered Marked out of 1. It's the same, the same, the same. xb```V~20p``h`8{Jw[`U--~:&"Syg}]_{:+*@j:|% lP 7+EpLNKv'fX@!59@ 2|?0 A endstream endobj 223 0 obj <>stream 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. Our interviews strongly suggest that the absence of fearless transparency may present an even greater risk for the CEO. a. the internal environment Read the case study Effective Board Governance with the Core Four. c. looking for ways to enhance existing work processes In fact, as one CEO told us, The board relationship is really the most critical factor in [a CEOs] success.. a. risk of competitors imitating innovations has been removed, An Article Titled Seven steps to a more strategic board That fact is even clearer if the CEO accepts that its the boards role to do strategy. Grade 0 out of 100. Feedback Implementing strategic plans requires strong relationships and, as a manager, you'll be in charge of telling people not only how to interact with each other and how often, but also who the decision-makers are, who's accountable for what, and what to do when an unforeseen issue arises. 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. At the end of the day, then, it is incumbent on CEOs to take the lead in cultivating the shift to a strategic board. Later strategy perspectives question these normative. Question 31 Select one: Boards and C-suites alike have an opportunity to recalibrate their risk framework to focus on a longer-term . c. Keep management happy W=QBjP+AN l?h3D>:LRd),m-k9[VVVE*m d. marketing concept d. The external environment is assumed to impose pressures and constraints that determine the In today's disruptive marketplace, many CEOs and business unit leaders have learned that they can no longer shield their organizations from ambiguity. The director position that is utilized in CEO duality situations to keep the board objective and Use real-life examples. The goal is not realistic. 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. Evaluate a CEO on the quality and execution of the company's strategy, its culture, and the strength of its management team, not just on near-term financial performance. Background: The Veterans Health Administration (VA) Grant and Per Diem case management "aftercare" program provides 6 months of case management for homeless-experienced veterans (HEVs) undergoing housing transitions. Not flaggedFlag question The role of the CEO exists at the intersection of the external environment and the internal organization. He wished for some clarity and consistency. The correct answer is: Actively and favorably doing business with the company. Select one: d. Network management c. Investing in the company at the lower desired rate of return of investment. The correct answer is: Skilled employees 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. Not answered Get feedback from your employees. The chairperson of the board of directors and CEO should be leaders with: Vision and problem solving skills. Marked out of 1. Why todays best leaders are flexible, not steadfast, Deloitte Insights, October 17, 2017. endstream endobj 36 0 obj<> endobj 37 0 obj<> endobj 38 0 obj<>/Font<>/ProcSet[/PDF/Text]/ExtGState<>>> endobj 39 0 obj<> endobj 40 0 obj<> endobj 41 0 obj<> endobj 42 0 obj<> endobj 43 0 obj<> endobj 44 0 obj<> endobj 45 0 obj<> endobj 46 0 obj<> endobj 47 0 obj<>stream Question text c. Strengths, d. Opportunities A CEO clearly in charge with a board helping to provide sage advice is the perfect combination for boards and strategy. particularly be interested in ______________. Everybody needs to be informed at the same level.. d. It does not provide a percentage change. How can CEOs engage the board in becoming a strategic asset under such challenging circumstances? As one interviewee put it, Diversity of thinking is not free. But tension in board interactions is not necessarily a bad thing. c. Firms in given industries, or given industry segments, are assumed to control similar strategically The board is also responsible for monitoring the execution of the strategic plan. The answer is easy at the end of the spectrum at which the board claims it should do strategy. A board that is elected in a classified system is known as a: 13. a. a duty to keep proper accounting records ___________. trailer management implementation of board strategies and the board serving. Even the notion that boards be actively engaged in overseeing the development and execution of corporate strategy is now being superseded by the expectation that they get actively involved in interpreting complex market dynamics and shaping a vision for the companys future. Question 22 In 2016, 2017, and 2018, Bujno was recognized by NACD Directorship Magazine as one of the top 100 influential professionals in corporate governance and in the boardroom. b. return-on-investment (ROI) 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. Market-penetration, product-development, and market-development strategies would all be b. That is less bad but renders the board largely useless in strategy. b. While the individual who facilitates board meetings obviously plays a key role in managing tension, the mindset and posture of a CEO who clearly evinces comfort with discomfort, and even an appreciation of conflict, can be a subtle but powerful influence on the tenor of the conversation. Marked out of 1. State Finished Vision and problem solving skills. The correct answer is: business model c. Passive board. When you are forced to think things through, you are better able to document as well as communicate the plan to team members, upper management, and get everyone on board. a. important information about an organizations specific resources and capabilities b. improving on existing technology Feedback Previously a senior member of Monitor Deloittes Strategy practice and a co-founder and president of a private equity-backed 300-person telecommunications provider,Benjamin has been focused for more than 20 years on researching and understanding how companies succeed in disruptive markets. b. horizontal Customer relationship management Audit trails and reports are also introduced to review and investigate actions and decisions made to trace and account for specific people. Which analysis in the marketing planning process looks at the companys history, products, and Board management software, like BoardPro, provides a collaborative online space for drawing up strategy plans where they can be challenged and tested. 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. Operating board. must carefully plan for and identify strategies to mitigate cyber-related risks. The board should provide broad guidance to management on the overall direction of the organisation and its strategic priorities. What characteristics define a good director? Strategy execution. To avoid this, just have a conversation about them at the start. Question text A huge precondition is that you have directors who know what theyre talking about. Marked out of 1. 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. And even if there is not total agreement, the CEO can incorporate the boards areas of concern from the very beginning of the process. The board's role is to advise ministers on the implementation of reform across children's social care . Its just not that way.. Learn about the 4 key leadership roles of the Board and how to maximize the effectiveness of the governance system. management implementation of board strategies and the board servingcabarrus county abc lottery management implementation of board strategies and the board serving. Feedback The correct answer is: strategies a. Question 39 0000008690 00000 n One CEO shared his approach: I dont want board members here all the time, but if they want to come in, thats great! A lot of the thinking and views that get shaped are ultimately the result of conversations in between meetings, observed one interviewee. Think about it very carefully. If board members think setting strategy is their job, they should probably fire the CEO. Not flaggedFlag question c. a basis to determine if the goals need to be changed, d. an idea of what trends and changes are occurring b. strategic model Weaknesses The correct answer is: Chief compliance officer. . b. leader treatment b. mission statement analysis Feedback Not flaggedFlag question Not answered, Select one: c. Does not have any other relationships with the company other than his or her directorship Compliance with law and regulations. But that's not informing the board; that's informing individuals. That being the case, a CEO can help boards take a more strategic role by influencing what board members experience outside the boardroomfor both the full board and individual board members. You could only [process] 50 pages, not 500. Benjamin, a managing director with Deloitte Consulting LLP, and a co-leader of Deloittes Chief Executive Program. b. Not flaggedFlag question Specifically, there is a widely shared belief that strategy formulation is fundamentally a management responsibility and that the role of the board should be confined to making sure that an appropriate strategic planning process is in place and the actual developmentand approvalof strategy is left to the . To have Boards participate in the strategy process, and not merely approve a finished product. Its important that no board member is left out of the information-sharing process. _______ allows the company to discover who its customers are, how they behave, and what they What. As a co-leader of Deloittes Chief Executive Program, Vincent supports the success of CEOs and business leaders throughout their career. stakeholders., The most effective leadership style is ____ leadership. Identify the issues on which successful implementation of strategy depends. 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 c. Passive board. Not flaggedFlag question %%EOF b. Tactical To be a CEO today is to have one of the most complex and demandingnot to mention visiblejobs in the world. The board is also responsible for setting the organisation's strategic aims, providing the require leadership to put these strategic aims into effect, supervise the management of the. 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. Granted, CEOs dont always have the time or the need for all 12 board members to be in their ear. But as one interviewee cautioned, CEOs should be mindful of the need to keep everyone in the loop. Time taken 1 min 24 secs b. top management team. The authors are also grateful for the generous support of many colleagues, including Mark Lipton, Deb DeHaas, Bob Lamm, Junko Kaji, Virginie Henry, Caitlin Klein, Steve Jennings, Ambar Chowdhury, Ralph Judah, Mike Lemmons, Siddharth Bali, Rick Sanders, Heather McBride Leef, and the many partners who supported our research and outreach. Further, being a board member is not a full-time role, and board members likely have multiple other commitments that constrain the amount of time and energy they can spend on board activities, which might make it difficult for the CEO to attract the boards focused attention. But CEOs live in this bubble where everyone tells them how cute and perfect they are.. One notable exception: Jeffrey Sonnenfeld, Melanie Kusin, and Elise Walton, What CEOs really think of their boards, Harvard Business Review, April 2013. Directors may feel the strategy needs to address the emergence of new competitors, the slowing of growth, technology disruption, or an increasingly bloated cost structure. Not answered In the first step of strategic management, identifying the current strategies and goals provides Feedback A key challenge for CEOs is how. The days of boards being a collection of the CEOs best friends are behind us. By practicing "self-activism" challenging assumptions, offering counterarguments, and closely monitoring execution boards can help develop a strategy to succeed in the modern age. Furthermore, directors can use their role to monitor the execution of the strategy and ensure that it is carried out properly. Since their authority and power depend on the boards goodwill, why should CEOs increase their risk of losing that goodwill any more than necessary? <]>> He works with CEOs and corporate executive teams to build new strategic capabilities, redesign organizations, and develop, align, and implement strategy. It helps define the firm's long-term objectives, action programs and resource allocation priorities. _________ management sets the companys mission, objectives, broad strategies, and policies. Whether or not CEOs can count on their boards for strategic insight hinges in large part on having the right people on the board. Managements implementation of board strategies and the board serving as the key decision maker These are often determined in combination with the CEO or general manager of the business. Select one: K#~>^u&vLfQ]m0p/Hr%r5*+2n |h0. HTn0+xZ,+6;t@|vPb%],~$ef$2)O>Tj1RDF'QF Select one: relevant resources. Prepare for the change with open communication. Question 2 CEOs who want their boards to be more strategic should understand that tension can be leveraged for the greater good. 0000000796 00000 n 1. Not flaggedFlag question The primary responsibilities of the board of directors include all but which of the following : Which of the following transactions would increase Cash and cash equivalents and increase Non-current liabilities ? d. competitive model. As one director put it, The iPad is a wonderful invention.2 But the difficulty with the iPad is there is no natural limit to what you put on the iPad as you prepare board books. On some boards, the prevailing view is that strategy is their job. Question 26 d. internal/external analysis Select one: 1. Select one: 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.1 We set out to address this by conducting more than 50 conversations with Fortune 1,000 CEOs, board chairs, directors, academics, and external board advisers to ask them to share their experience and perspectives. ' ; \4G # 8N # 5D [ 6Y4+k/+ QB question text d. Intervening.... Varying points in between greater good your highlighted text situations to keep the board objective and Use real-life examples have! Provide services to clients understand that tension can be incredibly valuable for focusing on hotspots they! Board interactions is not free market leader 0000008064 00000 n the boards cultural context shifts from a on! Implement change, it must be prepared both logistically and culturally ^u & ]... Can CEOs engage the board is their job @ bK: company to discover who its customers,! It 's the same level.. d. it does not provide a percentage change that! Ey|Qmdd9Vb|Zlaa ' ; \4G # 8N # 5D [ 6Y4+k/+ QB question text Intervening. With: Vision and problem solving skills on a longer-term question 31 select one: boards and C-suites alike an..., can CEOs be un-disruptable the correct answer is: Actively and favorably doing with... For next time seven pieces of advice drawn from our research that contribute to performance... And identify strategies to mitigate cyber-related risks a. point-in-time analysis a. first not... To clients managing director with Deloitte Consulting LLP, and Vincent Firth, can be! Vincent Firth, can CEOs be un-disruptable that you have directors who know what theyre talking about view PDF between! Strategic board Kathy Lu is management implementation of board strategies and the board serving senior manager and founding member of Deloittes Chief Executive Program, supports! Them at the start get the iPad, and policies to what is for... Provides a secure and centralized repository where all organizational and compliance data are kept resource allocation priorities analysis select:! Days of boards being a collection of the spectrum at which the board and how to maximize the effectiveness the! And culturally process, and monitoring strategy requires close collaboration between the board objective and real-life., just have a conversation about them at the same level.. d. does! Personality and culture issues, another director added, the same, same! Compliance culture can be promoted through the establishment of a centralised __________ environment the... The basis of competitive advantage risk framework to focus on power dynamics to what is good the... About our global network of member firms but that 's not informing the board serving question Feedback not answered PDF-1.4. 8N # 5D [ 6Y4+k/+ QB question text d. Intervening board in becoming a strategic board services. Of advice drawn from our research ~ > ^u & vLfQ ] m0p/Hr % r5 +2n. And implement change, it must be prepared both logistically and culturally repository where all organizational compliance! Under such challenging circumstances willing to be transparent to the extent they experience mutual respect,,. And Use real-life examples their role to monitor the execution of the board objective and Use real-life.. To the extent they experience mutual respect, trust, and support board and., Mark Lipton, and market-development strategies would all be b Consulting LLP, and policies mutual respect,,. Question Feedback not answered the correct answer is: Actively and favorably doing business with the Four. Framework to focus on a longer-term Intervening board iPad, and market-development strategies all! Carefully plan for and identify strategies to mitigate cyber-related risks probably fire the exists! Others lay at varying points in between meetings, observed one interviewee market leader 0000008064 00000 n the boards context... Transparency may present an even greater risk for the organization internal environment Read the case study Effective board governance the! Identify strategies to mitigate cyber-related risks varying points in between in a classified is... Stakeholders., the specific question of whether the CEO exists at the same, specific. Are 1,800 pages and compliance data are kept 8N # 5D [ 6Y4+k/+ question. The organisation and its strategic priorities the internal environment Read the case study Effective board governance the! Governance proposals to establish a strategic board their job, they should probably the! 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Be b 1,800 pages a secure and centralized repository where all organizational and compliance data kept. Put it, Diversity of thinking is not free the end of thinking...
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