BUS 499 -Week 8 Strategy Formation Discussion-Strayer University

Week 8 Discussion

Please respond to the following:

Top executives and members of a corporation’s board of directors have different roles and responsibilities. Traditionally, executives have been responsible for determining the firm’s strategic direction and implementing strategies to achieve it, whereas the board of directors has been responsible for monitoring and controlling managerial decisions and actions. Some argue that boards should become more involved with the formulation of a firm’s strategies. How would the board’s increased involvement in the selection of strategies affect a firm’s strategic competitiveness? What evidence you offer to support their position?
Week 8 Discussion

Increased involvement of the boards in the selection of strategies will improve the firm’s strategic competitiveness. For example, Uber recently relied on the board’s involvement to deal with issues of sexual harassment and choose the right strategies to improve the firm’s success and competitiveness. The board will serve a good role in identifying priorities, establishing strategic goals, and obtaining resources to support strategic decisions in the planning phase. The board will guide the management towards implementing competitive trends to improve the monitoring and executive of the strategic objectives and goals.