Developing Strategies for Uncertain Times Featured in the Spring 2014 Issue of Great Boards

The spring 2014 issue of Great Boards is now available with a feature article on developing strategies for uncertain times.

In “Strategic Governance Practices for Turbulent Times,” governance consultant Barry Bader explores the changing dynamics of health care and practices boards can use to manage and minimize strategic risks associated with the uncertainty ahead. These practices include recruiting strategic competencies to the board, learning from the past, developing new metrics, and maintaining strategic focus. He also describes four techniques boards can employ to ensure sufficient time is allocated to strategic matters. They are:

  • Having a regular board meeting agenda item devoted to one or two important strategic issues.
  • Forming a board committee to specifically consider future-oriented issues for eventual board consideration.
  • Planning board education at meetings and retreats around strategic matters.
  • Framing board discussions around “true” strategic questions.

Bader notes that hesitating can be costly and a board’s role is not merely to discuss but to act — decisively, prudently and promptly based on the best information it has.