Advisory services
Governance of Strategy
KEY OUTCOMES
Identify critical board performance factors and implement an ascent plan toward success
26 June 2023 marks the start of a new era of ESG & sustainability reporting.
About Governance of Strategy
Governance of strategy enables the board and directors to provide the necessary oversight of the review of the core purpose and strategic plan. It also subsequently monitors the achievement of these two critical elements of an organisation.
What changes in the external environment require an adjustment to the strategic objectives and plan? What additional support can be provided by the Board to Management to improve the achievement of strategic priorities?
Governance of Strategy Overview
Corporate governance plays a critical role in strategy formulation and strategic delivery. It defines the roles and responsibilities of the board and the executives. It also determines how an organisation is governed. This applies to several aspects of the business, such as setting the organisation’s vision, purpose and strategic goals, providing the right leadership and culture for Management to reach those goals, and establishing clear parameters for measuring performance.
Plus, the governance of strategy will help maintain a healthy relationship between the board, management, and a diverse range of external stakeholders. This prevents conflict and ensures that all parties are working towards the same collective goals.
Governance of Strategy Services Components
Strategy formulation and oversight of strategy delivery
Articulation of organisational purpose
Strategy development facilitation
Environmental, social and corporate governance (ESG) reviews
Why Governance of Strategy Services?
Governance of strategy services address a range of governance and strategic challenges such as:
- Strategy is vague, outdated or struggling to be implemented
- Core purpose is unclear
- Social licence to operate is weak or damaged
- Stakeholder understandings are challenged
Our Approach
The Peakstone Global approach to Advisory Services covers the full project lifecycle of diagnose, design, deliver and embed
Our specific approach elements to delivering Governance of Strategy advisory services are:
- Undertaking key stakeholder engagement with the Chair, each director, CEO/Managing Director, Company Secretary, and any other officers of the company, plus any external committee members
- Reviewing the oversight of strategy development and validating its currency with internal changes and external market forces
- Establishing whether the approved strategic plan is producing aligned yearly business plans and financial budgets
- Workshopping / facilitation of an organisation’s purpose, values, and behaviours as the key components of the desired culture
- Referral to partner firm for measurement of employee engagement and alignment
- Defining what social licence to operate means for publicly listed, large private, government, and not-for-profit organisations
- In a COVID-19 impacted world, figuring out how organisations can demonstrate good to great corporate governance and maintain an appropriate social licence to operate
