Strategy: More than a board game

FAILING to plan, as the adage goes, is planning to fail. That is why it is essential for a company to have a solid strategy for success.

Yet the 2013 McKinsey Global Survey on Governance revealed that a mere 34 per cent of 772 directors understood their companies' strategies. This may not seem alarming as boards generally spend most of their time on compliance matters rather than strategy.

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