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Boards + Strategy (Board involvemnet (Continuum of involvement (Ferkins et…
Boards + Strategy
Board involvemnet
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Capability
Firkins + Shilbury (2012) identify 4 main aspects of board strategic capability:
- capable people
- frame of reference
- facilitative of board processes (e.g. work plan)
- facilitative of regional relationships (especially key in NGBs)
Continuum of involvement (Ferkins et el, 2009)
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- Shaping strategic decisions
- Shaping content, context and conduct of strategy
- Co-leading strategy development
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Criticisms
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Still a new discipline (Ferkins + Shlbury, 2009)
Much of the focus of research and formalisation on board involvement has come from the commercial influences, hence a tying to corporate governance principles (Ferkins + Shilbury, 2012)
Funding agencies
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If the board is involved in strategy, often they are influenced by funding requirements and tailor strategies this way
Theory
Nadler (2004) definition
Strategic Thinking
Collection, analysis and discussion of information
Be an active participant, bring an outside perspective, test consistency of thinking, collaborate
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Strategic Planning
Setting of priorities and objectives, configuration of resources in a coherent framework
Review core plans presented, ensure full understanding of plans, comment on plans, approve plans
Strategic Execution
Implementation, monitoring results and corrective measures
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Tricker (2012)
A combination of the board's outward looking, forward thinking functions is -strategy formulation
Guideline development
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Simply stated that strategy is important (UK Sport, 2004)
Understood that boards are responsible for mission and vision, stay clear of detail (SRA, 2011)
Boards have responsibility for key decisions and strategy (Sport England, 2012)
Sport Gov code (2016) explicitly sets out what strat should be and how it should play a part in an organisation
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Question (2016): Drawing on Nadler’s (2004) definition, what do you understand by the term board involvement in strategy? What are the supposed benefits of board members being involved in strategy?
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