c. leadership ability To the full teams of both the Chief Executive Program and the Center for Board Effectiveness, thank you for making this collaboration possible. Self-awareness and/or the ability to gather reliable input from board members is critical for the CEO to be able to determine whether to assume or give up the chair role. The bulk of the work in implementing strategy is done at this stage. Which concept is a measurement that shows whether, in general, the costs of conducting the Completed on Sunday, 17 May 2020, 6:50 PM Vision and problem solving skills. Marked out of 1. by Matt Palmquist b. Feedback The board has the responsibility of developing a governance system for the business. If a board that meets just a few days a year can do a better job of setting strategy than the CEO who is in the business 24/7, then the board has the wrong CEO. 218 0 obj
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The correct answer is: market situation analysis Weaknesses These are often determined in combination with the CEO or general manager of the business. Delegate the Work The third and final step entails the CEO presenting the desired strategy choice to the board. Not answered 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. 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. Not flaggedFlag question The correct answer is: be technologically innovative. 0000001383 00000 n
6. d. Create sustainable and enduring corporate value The correct answer is: intensive growth Question text Manage Efficiently: From planning and meetings to policies and evaluations, board management software can help you keep your governance team running smoothly. Question 5, Select one: The correct answer is: the internal environment Implementing and monitoring results and appropriate corrective action. a. a negative I feel completely different about that. relationship between strategic planning and performance. a. Are you getting the right information? Departmental Board. b. internal resource management Question text a. risk of competitors imitating innovations First, at the start of the process, the CEO should seek the boards input on the challenges that the board thinks the strategy should address. b. market leader We also have a board template that can assist your organization in coordinating responses to major incidents as they arise. 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. Not answered This 2-day Board Strategy & Risk Management Programme is a core module designed to explore the role of the Board in strategy setting and implementation in order to meet its goals whilst responding to changes in its environment. c. Passive board. A board that is elected in a classified system is known as a: 13. The correct answer is: Top The fact is that both pieces are critical to success. A highly dedicated team player with a passion for organizational development, offering leadership in the creation and implementation of people and culture strategies. Feedback Question 9 <br><br>Most recent accomplishment is serving on the exec team of a new challenger bank, to build the company from the ground up, gaining a banking licence in December 2019 and launching during 2020 . c. concentric b. It was called the UPS box. a. b. be technologically innovative. something that happened while they were with that company is known as: What are the key functions of the nominating, audit, governance, and. b. a duty of care Not flaggedFlag question Theres a huge information asymmetry, one chair-CEO said. Question 32 When a resource or capability is valuable, rare, costly to imitate, and nonsubstitutable firms may To have Boards participate in the strategy process, and not merely approve a finished product. Not flaggedFlag question They can even encourage the board to develop strategic options that differ from the CEOs ownand give the board enough information, as well as sufficient time and space, to do so. 0000003247 00000 n
Too much information can be just as bad as too little information. Another said, I used to dread it when the 12 inches of paper arrived on your desk. Feedback The correct answer is: Capabilities are highly mobile across firms. The third step in strategic management is related to analysis of ____________. c. Passive board. | EY - Global Trending 8 transformative actions to take in 2023 16 Dec 2022 Consulting How can slowing climate change accelerate your financial performance? He outlines the processes leading to management-board involvement in funding strategies (not projects) and in determining direction. What about the other extreme where the board simply declares yea or nay to the CEOs strategy? a. strategic management model On some boards, the prevailing view is that strategy is their job. 'sBz 77M 0C/BQ+>`c@E>v3B S%E12p*d*l(~*pDu9VP}5"FG"PwTNJbsN%R6TEV0!C%,QT2;g')gFUs*}IYP.QpTyNr%OB[.|]~uN? If a researcher is studying the characteristics of individuals who become leaders, he or she would To be a core competency, a capability must satisfy all of the following criteria EXCEPT _________. It is the team meetings, the one-on-one coaching, the process improvements, the customer meetings, and the responses to the . CEOs will likely be willing to be transparent to the extent they experience mutual respect, trust, and support. The boards cultural context shifts from a focus on power dynamics to what is good for the organization. Question 36 b. Marked out of 1. Not answered Not answered Not answered c. It is the first step in the strategic management process. Question 26 The correct answer is: Objectives Marked out of 1. 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. Vincent is a managing director with Deloitte Consulting LLP in the US Strategy service line, Monitor Deloitte. Train your staff on how to manage change for next time. 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. startxref
d. be valuable to customers. On others, the prevailing view is the extreme opposite: their job is to wait for management to come forward with its strategy and to either approve it or not. a. first mover 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. Question text determine the organizations competitive weapons. These actions could be as simple as agreeing on what information is necessary to reach a satisfactory resolution, and what needs to be done to obtain that information. c. Chief compliance officer. She is based in Santa Barbara, CA. Select one: a. a duty to keep proper accounting records Not flaggedFlag question 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. 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. The correct answer is: looking for ways to enhance existing work processes The CEOs personality. xref
Organizational decision makers are rational and committed to acting in the firm's best interests. Feedback Customer relationship management 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. trailer
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. Question 30 Question 10 b. b. time pressures involved in serving the customer b. improving on existing technology c. business model 35 25
___________. d. The industry's structural characteristics have little impact on a firm's performance over time. Question 8 Actively and favorably doing business with the company. Boards and C-suites alike have an opportunity to recalibrate their risk framework to focus on a longer-term . Banish ultra-technical terms. d. no control over resources Differences in resources and capabilities are the basis of competitive advantage. a. lead director To chair or not to chair? Here are a few tips that could help: Get to know the members of the Board of Directors. Its not necessarily easy for boards to contribute to strategy, however, or even to embrace the idea that they should. Question 25 Select one: d. Legal counsel. The founder and former leader of New York's Deloitte Greenhouse Experience, he has designed and facilitated hundreds of immersive lab experiences for CEOs and their leadership teams where he combined principles of business strategy with behavioral science and design thinking to address clients challenges. Not flaggedFlag question Semi-Final-assessment-for-quality-service-management.pdf, HKU SPACE Po Leung Kuk Community College (HPCC), Laguna State Polytechnic University - Los Baos, Indonesia Collage Of Economics - Indonesia (Rawamangun0, Mahatma Gandhi How to Succeed in the Civil Services 183 185 English medium is, Touchstone 1 Reflecting on Major Approaches to Studying Religions.docx, Application of the National Credit Code Applies generally to all credit which is, To Reflect 1 What is the meaning of the word Tubden Diptychs 2 How many, xviii Of all the sales 80 were on credit and 70 of the purchases were on credit, deviate from automatic choice Behavioral Economics 3rd Edition by Edward, 942 Project Due Dates Project 1 Descriptive Statistics and Graphics Due March, 29 In order for a girl to be colourblind what must be true A Her mom and dad, n Organisational training and training record keeping requirements to maintain, You can restore a protected VM or volume group at any time through the web, Gilbert Stuart 179697 Once owned by Alexander Hamilton this portrait shows, 2000 100 j 10 x 50 x 2000 j L j mH 50 3 g32 g90 g32 g32 g90 g127g111 g127 g16, Bandwidth Migrations can take a lot of bandwidth depending on the size of the VM, 15 A light ray passes through a triangular prism as shown in the following. Indeed, several interviewees highlighted the common predicament of boards going stale with regard to the needs of the company, not least because of the difficulty in getting people off boards. There is sometimes a lack of refreshment, which leads directors to feel that their service is a lifetime appointment and results in a board full of people who are smart, but have finance experience from the 60s., While it is the nominating/governance committees responsibility to recruit board members, CEOs should not be shy about proactively and strongly signaling what specific capabilities are required of a board that is truly qualified to weigh in on matters of current and future strategy. 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. a. Ones ability to be flexible and think strategically. For a competitive firm, if any level of production results in losses, the loss-minimizing output level is when: A. marginal product equals marginal cost B. marginal revenue equals marginal cost C. In the past, the community relations function was deemed a(n) ________ between the organization and its immediate community. This is what most of us know as the traditional approach to strategy. The correct answer is: Resources to implement strategies are firm-specific and attached to firms over _________ management sets the companys mission, objectives, broad strategies, and policies. 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. What is the CEOs personal effect on others? Later strategy perspectives question these normative. Not answered Actively balancing tension with the need to maintain mutual respect, trust, and support with the board may be a new role for many CEOs. a. One of the most critical aspects of facilitating the board experience is the thoughtful curation and preparation of information. 7. Source: Colin B. Carter and Jay W. Lorsch, 2004, Back to the drawing board, p. 194. What is a strategic design for how a company intends to profit from its strategies, work processes, b. Tactical Leveraged in the right way, boards canand musttranscend their oversight role to be a tremendous strategic asset. Not flaggedFlag question a. leadership effectiveness Explore Deloitte University like never before through a cinematic movie trailer and films of popular locations throughout Deloitte University. How can boards strengthen governance to accelerate their ESG journeys? Chief compliance officer. c. Business I tell my team to let me know, you dont have to do a dry run with me. 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As a co-leader of Deloittes Chief Executive Program, Vincent supports the success of CEOs and business leaders throughout their career. Weak competition Simply select text and choose how to share it: Seven steps to a more strategic board Intervening board. 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. Question text 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. Not answered If a board that meets just a few days a year can do a better job of setting strategy than the CEO who is in the business 24/7, then the board has the wrong CEO. Boards of integrity want far more than to be identified as aloof VIPs who meet from time to time to rubber-stamp managements decisions. 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 strategic plan addresses the what and why of activities, but implementation addresses the who, where, when, and how. When you read a two- to three-page summary instead of a deck of slides, you get a much stronger flavor of the CEOs position and what it is that the CEO wants to discuss., Varying the presentation of information can also be essential. A compliance culture can be promoted through the establishment of a centralised __________. Thats not always the case, said a corporate governance professor. The correct answer is: Chief compliance officer. Additional Support for Learning Implementation Group. Board engagement. On other of his boards, the prevailing view is the extreme opposite: their job is to wait for management to come forward with its strategy and to either approve it or not. Feedback Nadler (2004). b. a. Certifying board. In her 29 years with Deloitte, she has also worked in Deloitte & Touche LLPs Audit and M&A practices. Studies of the factors that contribute to organizational performance have shown _____________ Operating board. d. Intervening board. Above all, this piece was made possible by the CEOs and board chairs, directors, scholars, and advisers who shared so much of their time, observations, and insights with us. 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. d. Intervening board. . Question 22 To be a CEO today is to have one of the most complex and demandingnot to mention visiblejobs in the world. b. mission statement analysis Strategy execution. c. a basis to determine if the goals need to be changed, d. an idea of what trends and changes are occurring Not answered With a strong partnership between the board and CEO, what at first may feel like difficult conversations can become revelatory dialogues, surfacing ideas and insights that might otherwise stay buried from a desire to smooth tension and maintain civility. Ineffective strategy oversight by the board can contribute to regulatory and compliance issues, shareholder distress, and potentially a gap between the board and management with regard to objectives and definitions of success for the organization. b. Select one: In case of the latter, the bar may be higher to justify the consolidation of roles. H|TKo8WQV_"@,PA`%h4^3Ru}/aypZ)PlUon-'xz3Mr`Q?XX%2BZZZ8u}=Tnjyn~}us
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State Finished Feedback Please see www.deloitte.com/about to learn more about our global network of member firms. Since their authority and power depend on the boards goodwill, why should CEOs increase their risk of losing that goodwill any more than necessary? Before delving into logistics, cultural preparation must first take place to achieve the best business outcome. The solution is a fundamental change in the strategy process to engage the Board earlier, and more often. Its just not that way.. What. If it didnt fit into the box, it didnt go to the board. One director who is also a governance committee chair declared that board recruitment was one of his most important tasks. Generally, it should involve as appropriate: those who will be implementing the plan (e.g. management implementation of board strategies and the board serving. Not flaggedFlag question. The correct answer is: risk of competitors imitating innovations Other decisions, which entailed real strategic choices and could have used two or three hours of debate, did not get enough air time. Compliance with law and regulations. This may seem unnatural to CEOs accustomed to taking a more reactive or passive stance toward the boards role in oversight, compliance, and the execution of its fiduciary duties. a. Select one: W=QBjP+AN
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The board's role in strategic planning entails identifying priorities, establishing goals and objectives, finding resources, and allocating funds to support the decisions that need to be made around strategic planning. are best associated with: One CEO shared his approach: I dont want board members here all the time, but if they want to come in, thats great! Not flaggedFlag question 21. No correct answer from the options provided Through engaging with boards and executive teams on strategy . Feedback The correct answer is: Does not have any other relationships with the company other than his or her 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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