BUS 17 Lecture Notes - Lecture 13: Swot Analysis, Stock Exchange, Risk Governance
Document Summary
Model involves dynamic process: boards involvement in formulation of strategy leads to making of policies & plans; with board then monitoring & supervising executives" performance, before providing accountability which forms basis for reviewing strategy in the future. Some boards delegate parts to management e. g. : us role of board to supervise ceo. Every board has governance responsibility to ensure that corporate strategy, risk assessment & ethical profile are in place and appropriate. Principle purpose of the organization identified, core values established, risk profile determined & long-term direction set. Link mission with strategic decision to make such statements valuable. Ensure enterprise is heading in the right direction. Process of generating & reviewing alternative long-term directions to lead towards achievement of purposes, consistent with risk profile acceptable. Majority executive directors: small family firms; board is much involved in process since directors are mostly wearing two heads as manager & directors; non-executive critical offering alternative insides, raising important questions; 2.
