Strategic planning for board management isn’t for the faint-hearted. It takes a lot of thinking and reflection and the courage to challenge what’s already in place. It can be especially difficult when a board has previously had a habit of letting management run the show and rubber stamping their recommendations.

One of the first steps to effective strategy planning is determining the approach your board will take to the process. Some boards prefer to be very involved and be supervisors, while others might prefer an active role in which they collaborate with the CEO on strategic decisions.

In either case, the key is to make sure that your board members have an accurate and clear understanding of its role. This will ensure that the board is engaged and that its input is appreciated.

A strategic plan metric is another important aspect to track Learn More the progress of your business. This will help you verify if your strategic plans are effective and give you confidence that you’re in the right direction to achieve success.

It is important to think about the risks that go along with the goals of your company and decide if they’re worth taking. This can be challenging, especially if it’s against the grain of the conventional wisdom or even a personal bias. The more you can raise controversial topics in a positive and productive manner, the better your chances of success.

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LP Residences has been at the forefront of Cambodia’s affordable housing development yet without sacrificing the luxurious and modern lifestyle which is highly demanded by the new generation of Cambodian people. 

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