b. an understanding of what the competition is doing Suppliers and customers reward good corporate performance by ________. You would need a really strong lead [independent director] to counterbalance. As one CEO shared, When I took over [as CEO], it was clear to me that the executive team wanted as little interaction with the board as possible. Process development strategies seek to achieve a competitive advantage by _____________. Not answered, Select one: The correct answer is: Create sustainable and enduring corporate value A MIHRM, MKIM, SHRM Certified HR Business Partner with a successful background spanning over 11 years and extensive exposure as a Strategic Organization Development Consultant, Talent Architect, Performance Management expert and International consultant working on both international and local assignments. 3) Establish a policy based governance system. Question 37 c. trailblazer What is a strategic disadvantage of being a first mover? Who better than the CEO to help identify what those specific skill sets (and mindsets) areand to anticipate what they should be in the future? The most successful boards are able to combine strategic vision with effective group dynamics in order to make the best decisions possible. 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. c. leadership ability 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. 'sBz 77M 0C/BQ+>`c@E>v3B S%E12p*d*l(~*pDu9VP}5"FG"PwTNJbsN%R6TEV0!C%,QT2;g')gFUs*}IYP.QpTyNr%OB[.|]~uN? Everybody needs to be informed at the same level.. The correct answer is: Actively and favorably doing business with the company. Beyond the scope of their business, CEOs and the organizations they lead have increasingly significant and more transparent influence at multiple levelssocietal, cultural, environmental, politicalaffecting vast numbers of stakeholders, including shareholders, employees, customers, and citizens. Keep reading to learn how to use each of these board templates. d. Risk assessment. Marked out of 1. By practicing "self-activism" challenging assumptions, offering counterarguments, and closely monitoring execution boards can help develop a strategy to succeed in the modern age. Select one: stakeholders., The most effective leadership style is ____ leadership. d. Question 19 2023. 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 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. All of the following are assumptions of the industrial organization (I/O) model EXCEPT 0000000796 00000 n
6. relationship between strategic planning and performance. The correct answer is: business model 0000004068 00000 n
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. &-C0Npby{62uU6 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. Not flaggedFlag question {ru]?H&qWCOYWT.v3k 2}R&I9|N@X0jOUEkvhN&ktC 508d>>b dkbz+l Identify the issues on which successful implementation of strategy depends. strategies that result in above-average returns. Feedback Feedback business-- the investment-- are more than matched by the revenue produced in return? 0000003247 00000 n
Generally, it should involve as appropriate: those who will be implementing the plan (e.g. (enterprise risk management) anywhere in the world, in either the public or private sector. Members. It also enables the company to respond appropriately, coherently, and quickly to b. return-on-investment (ROI) HTn0+xZ,+6;t@|vPb%],~$ef$2)O>Tj1RDF'QF b. horizontal b. Not answered c. Motives But CEOs live in this bubble where everyone tells them how cute and perfect they are.. Feedback Not answered Question text a. lead director Is the CEO already the board chair, or is the CEO attempting to become the chair? She is a subject matter resource to public and private company directors and committees on several governance, strategy, and risk-related topics, as well as on timely and emerging topics that pose challenges to companies. major business processes (e., order processing, general ledger, payroll, and production) within a 219 0 obj
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c. reputation for being a follower b. The correct answer is: It is an objective more appropriate for a marketing plan. Why todays best leaders are flexible, not steadfast, Deloitte Insights, October 17, 2017. Not answered State Finished A CEO clearly in charge with a board helping to provide sage advice is the perfect combination for boards and strategy. Feedback d. internal/external analysis Not answered Question 17 Marked out of 1. The correct answer is: Skilled employees These are often determined in combination with the CEO or general manager of the business. Banish ultra-technical terms. The purpose of the implementation board is to have strategic oversight and provide support via a hybrid approach to successful and practical operational implementation of "Healthy Workforce. Objectives _____________. Question text Question 5, Select one: 10. b. endstream
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d. covering director It shows that the concept of ERM goes to the very heart of an organisation and that, if implemented in the way we recommend, taking a methodical approach to the management of uncertainty, it will affect the whole corporate strategy and act as a No correct answer from the options provided In particular, the specific question of whether the CEO should also chair the board generated strong opinions on both sides. 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. Prepare for the change with open communication. 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. Not answered Not answered b. time pressures involved in serving the customer Question 18 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. Its important that no board member is left out of the information-sharing process. a. strategies 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. My broad-based global experience and interdisciplinary focus, particularly in international development, have deepened my . d. Intervening board. 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. Realigned the support of 1,400 mobile devices. Select one: d. Unique market niche A friend who serves on a number of consequential public company boards came to my office not long ago to ask my opinion on something that had become a contentious issue across his boards. W=QBjP+AN
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Question 36 View in article. Question text 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. Not answered Whatever the specifics are, the CEO has the opportunity to both gain important insights from and align with the board. 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. Question 8 What is the proper role of a board with respect to company strategy? Feedback Select one: Question 24 See how we connect, collaborate, and drive impact across various locations. Copy a customized link that shows your highlighted text. Not flaggedFlag question a. 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. a. A lot of the thinking and views that get shaped are ultimately the result of conversations in between meetings, observed one interviewee. Capabilities are highly mobile across firms. Operating board. a. first mover List the issues the nominating committee should consider in the evaluation. objective and independent of management is the: Which of the following can be diversification classifications? a. Question 2 d. the alternatives the firm faces, Feedback K#~>^u&vLfQ]m0p/Hr%r5*+2n |h0. c. Passive board. A key challenge for CEOs is how. To standardize and improve aftercare services, we will implement critical time intervention (CTI), an evidence-based, structured, and time-limited case management practice. Marriott International, Inc. is a global leader in the hospitality industry. b. leader treatment Question 1 Through engaging with boards and executive teams on strategy . In the former case, the board can happily and intelligently affirm a strategy that it intimately understands and to which it has meaningfully contributed. If the board feels it needs to do strategy for the company, it is prima facie evidence that it should fire the CEO. . c. Each firm is a unique collection of resources and capabilities. management implementation of board strategies and the board serving. 0000011861 00000 n
The correct answer is: Ones ability to be flexible and think strategically. At the end of the day, then, it is incumbent on CEOs to take the lead in cultivating the shift to a strategic board. Board & Committee Meetings. 59 0 obj<>stream
Marked out of 1. Research Findings/Insights: Using survey data from 140 small firms in Norway collected in two different time periods, we demonstrate that leadership behaviors and processes have a greater impact on boards' strategy involvement than structural leadership . Question 4 Question 9 c. prime director 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 23 Not answered, Select one: 6. The relations between the board and management is critical to an organisation's long-term success. members, users, etc) those who will monitor its implementation (e.g. The correct answer is: a positive Board management software, like BoardPro, provides a collaborative online space for drawing up strategy plans where they can be challenged and tested. A fearlessly transparent CEO can have conversations with members of the nominating committee and the chair or independent director that address essential board capacitiesand identify which ones are missing. 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. Not answered Not answered management implementation of board strategies and the board serving. a. integrated marketing (IM) Question text independent of management is the: Investment Analysis and Portfolio Management Fundamentals of Business Management Fluid Mechanics Database Systems: Design Implementation and Management Social Psychology understanding macroeconomics SILKE: South African Income Tax Notes on Directing Digital Fundamentals Strategic Management The Law of Contract in South Africa Economie/Economics Not flaggedFlag question 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. b. d. Network management Select one: Question text 35 25
Its also not surprising that CEOs, when engaged in more intimate conversations about their role, are often keenly interested in finding help to validate their models of the business environment and to develop their vision of the future. Introduction What characteristics define a good director? a. intensive growth Not answered To achieve this goal, they have had to focus on developing and implementing a strategy that focuses on ethical behavior, social value, innovation and . Access more than 40 courses trusted by Fortune 500 companies. Not flaggedFlag question The CEO, among all of a companys top executives, is in a position to exert the greatest influence over what boards focus on and the intangibles of how they do their work. Members of the audit committee must be vigilant, effective, and informed. 0000002569 00000 n
Not flaggedFlag question The correct answer is: Does not have any other relationships with the company other than his or her Select one: Select one: 2. 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. Marked out of 1. Not flaggedFlag question. 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. Since their authority and power depend on the boards goodwill, why should CEOs increase their risk of losing that goodwill any more than necessary? 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. Select one: Not answered How can CEOs engage the board in becoming a strategic asset under such challenging circumstances? Question text has been saved, Seven steps to a more strategic board Its not necessarily easy for boards to contribute to strategy, however, or even to embrace the idea that they should. 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. The board can influence cultur e through this choice of top . Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, The Law of Contract in South Africa (Dale Hutchinson and Others), Strategic Management (Lynette Louw; Peet Venter), Principles & Practice of Physics (Eric Mazur; Daryl Pedigo; Peter A. Dourmashkin; Ronald J. Bieniek), Introduction to Business Management (Gawie S. Du Toit; Barney Erasmus; Johan Wilhelm Strydom), Civil Procedure: A Practical Guide (Stephen Pete), SILKE: South African Income Tax (M Stiglingh, AD Koekemoer, L van Heerden, JS Wilcocks, RD de Swart, P van der Zwan), Law of Persons and the Family (Amanda Barratt), Fundamentals of Business Management (McGraw Hill), Head First Design Patterns (Elisabeth Freeman), Applied Business Statistics (Trevor Wegner), Discovering Psychology (Cacioppo John T.; Freberg Laura), PROG TEST1 - programming 621 second year As a co-leader of Deloittes Chief Executive Program, Vincent supports the success of CEOs and business leaders throughout their career. Does not have outside relationships with other directors, b. F.cjB p>stream
Feedback The correct answer is: leader emergence Question 32 That fact is even clearer if the CEO accepts that its the boards role to do strategy. Feedback One of the most critical aspects of facilitating the board experience is the thoughtful curation and preparation of information. Question 38 Not flaggedFlag question Select one: Moreover, a board can, should, and usually does have a strong role in implementing a company's strategy by, for example, reviewing and approving its implementation plans, signing off on large capital expenditures it calls for, and making connections through their networks to support it. Select one: 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. The correct answer is: operating board _________ management sets the companys mission, objectives, broad strategies, and policies. Abortion Safe Access Zones: Ministerial Working Group. Question text 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. governance refers to the implementation of policies, procedures, and processes by which an organization is being governed. HTKo0Wh-]!CTmOa,p(W.9UmAb&ceP.%,s@4y6PO`#|wPL/} >W=j7!_c#n|v6:}E6kUK)]VkvbNS@*V.x"s#_\F4W)0;I7\0g(miR v`Ll Question 31 An effective catalyzer, I work behind the scenes with an unwavering commitment to people and impact. He outlines the processes leading to management-board involvement in funding strategies (not projects) and in determining direction. (Its important, however, to suit ones tactics to the audiences preferences. 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. That means the board and the CEO are in full agreement that the CEO is actually the COO. a. the internal environment Marked out of 1. Question text c. Business The correct answer is: the internal environment Advising a CEO to be fearlessly transparent with his or her board is a pretty tall order. The correct answer is: first mover a. internal auditing management Marked out of 1. The correct answer is: Top Marked out of 1. 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? Email a customized link that shows your highlighted text. Marked out of 1. A board management software helps streamline meeting processes, and it helps keep the discussions, documents and other information remain secure and confidential. Question text x= y,B". 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. Other decisions, which entailed real strategic choices and could have used two or three hours of debate, did not get enough air time. Many nonprofits start the process by identifying . 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. directorship It's the same, the same, the same. One notable exception: Jeffrey Sonnenfeld, Melanie Kusin, and Elise Walton, What CEOs really think of their boards, Harvard Business Review, April 2013. endstream
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Market-penetration, product-development, and market-development strategies would all be With that in mind, the directors we spoke with exhorted CEOs to be fearlessly open and transparent. Question text This article draws insights from what we heard. Question text 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 surprisingly, the most vehement complaints we heard from directors were about the seemingly impossible volume of information that board members are expected to digest. The question: What is the proper role of a board with respect to company strategy? Select one: Communication is a vital component of good corporate governance. Management's implementation of board strategies and the board serving as the key decision maker are best associated with: a. Certifying board.b. What are the decisions and actions that determine long-run performance of an organization? We all know that of course, but aspects of the why, what and how of board engagement in strategy are still contested in theory and practice. It has come from two schools of thought. CEOs can start simply by communicating their wish for open and transparent dialogue to the board. d. The industry's structural characteristics have little impact on a firm's performance over time. c. It does not have a specific effect that can be measured. Whether or not CEOs can count on their boards for strategic insight hinges in large part on having the right people on the board. Practically, this iterative process can be done in three simple steps. The CEOs personality. In her 29 years with Deloitte, she has also worked in Deloitte & Touche LLPs Audit and M&A practices. All of the following are assumptions of the resource-based model EXCEPT Development and implementation of Investment Policy Statements and Procedures; adherence to risk management, compliance and audit frameworks resulting in successful outcomes for regulatory and. Directors want their CEOs to succeed. Studies of the factors that contribute to organizational performance have shown _____________ Board Engagement. In fact, as one CEO told us, The board relationship is really the most critical factor in [a CEOs] success.. The correct answer is: Customer relationship management Board engagement. Management Committee) others who can contribute to its development (e.g. Marked out of 1. 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. When tension is felt but not transparently addressed, for instance, the action that results from it can be flawed. endstream
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3. a. a negative How engaged is the board? Ive never seen it.. Feedback If the board feels it needs to do strategy for the company, it is prima facie evidence that it should fire the CEO. a. Certifying board. Not answered d. marketing concept Not answered To be a core competency, a capability must satisfy all of the following criteria EXCEPT _________. 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. Departmental Board. Select one: must carefully plan for and identify strategies to mitigate cyber-related risks. Describe the relationship that should exist between the audit committee and, 11. The correct answer is: Core competencies 0000004821 00000 n
Not flaggedFlag question c. market situation analysis 7. Tactics The strategic plan addresses the what and why of activities, but implementation addresses the who, where, when, and how. Audit trails and reports are also introduced to review and investigate actions and decisions made to trace and account for specific people. A technically minded banking and credit risk leader, with a broad experience of monitoring and optimising secured and unsecured credit risk strategies in both the UK and emerging markets (Africa). d. competitive model. Not answered, Select one: Board management software provides a secure and centralized repository where all organizational and compliance data are kept. The others lay at varying points in between. Not flaggedFlag question Feedback 220 0 obj
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An open spirit is what allows for a productive conversation. Question 11 Question 46
What information should we be taking out?, If CEOs want their boards to be more strategic, the relationship dynamics between the CEO, the chair, and independent lead directors become critical. Not answered c. Strengths, d. Opportunities If not, what do you need? Question text Operating board . Question 22 d. be valuable to customers. b. be technologically innovative. Question text The Policy Governance Model. c. strategic management, Not answered determine the organizations competitive weapons. The days of boards being a collection of the CEOs best friends are behind us. Feedback . It behooves a CEO to recognize not only the legitimacy, but the need to take an active role in shaping their boards role and effectiveness. 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Analysis not answered, select one: Too much information can be more important to on... Agreement that the CEO is actually the COO of paper arrived on your desk shows your highlighted text and! Just as bad as Too little information global experience and interdisciplinary focus, particularly in international development have! In [ a CEOs ] success out of 1 not transparently addressed, for instance the...