Why are most Boards are failing at their number one job?
Many Boards spend two hours reviewing last quarter’s financials.
Fifteen minutes are allocated to “strategic discussion.”
This is not Strategy. This is planning theatre.
And according to McKinsey’s research, it’s happening everywhere. While 100% of corporations have formal strategic planning processes, fewer than 25% report these processes as key to making their most important decisions.
Let that sink in for a moment.