Engaging the board of directors on strategy

Purpose – Over the last several years, many corporate boards have sought a more substantial role for directors in the strategy‐setting process. The author suggests a proven system for educating board members about company strategy and gaining a more valuable contribution from them. Design/methodology/approach – The author offers a five‐point process for effectively engaging a board of directors on strategy that he developed working together with corporate leaders. Findings – When the CEO thinks through this process and engages the directors, the board and the CEO can enter into a dialogue that leads to collaboration and a greater chance of achieving the goals of the organization. Research limitations/implications – The author has implemented this five‐step process with a number of boards of directors. Practical implications – A key beginning point is for the CEO to work out, in collaboration with the chairman and other directors, a year‐long agenda of strategy topics for board meetings. Originality/value – The five‐step process enables the boards, chairmen, CEOs, and top managers to begin to forge an effective process to engage directors on strategy that will grow stronger over time.