The development of strategy and strategic decision-making have emerged as core themes in my doctoral research in recent weeks. Regular readers will know I am investigating the governance–performance relationship, in an effort to explain the impact boards have on company performance (because we currently don't know).
When one considers strategy and strategic decision-making, the question "Where should thought-leadership for strategy lie?" raises its head. One commonly-cited view is that the board should set vision and goals, management should develop strategy (for the board to approve), and then management should implement the approved strategy. Others say the board should drive everything and management should simply implement the board's wishes.
Forming a view on this question is central to my research. So, what do you think? I'd value contributions from anyone with a story to tell!
Thoughts on corporate governance, strategy and effective board practice; our place in the world; and, other things that catch my attention.