FMI Quarterly: How Your Board Can Propel Organizational Strategy
In a recent study of contracting firms, over 70 percent of industry leaders acknowledge that they have a strategic plan in place that has been fully communicated to the rest of the organization. Despite this positive response, many firms lack the organizational discipline and accountability necessary to execute the plan, diminishing its impact and bringing the very exercise of crafting the plan into question.
This FMI Quarterly article summarizes the common challenges industry organizations face when developing and utilizing boards for strategic planning, how boards can be more effectively developed, and, finally, when maximized, how boards can engage with management to improve strategy.
The New Horizons Foundation recently published “Using a Board of Directors, Peer Groups and Other Resources to Challenge and Enhance Performance: For HVAC and Sheet Metal Contractors.” This white paper is free to SMACNA members and demystifies how to best use an outside board of directors.