Role of non-executive directors in strategic decision-making
Their involvement is like walking on a tightrope where balance is crucial to creating long-term value for investors.
Add BT as a preferred sourceCOMPANIES' business strategies are of increasing importance to boards and command more of their focus.
In the recent SID-SGX Singapore Board of Directors Survey 2015, the top three areas identified by boards to be most important and that should take up the majority of the board's time moving forward are: business performance, strategy development and strategy execution. Compliance, risk management and other aspects of corporate governance come further down the rankings.
Not surprisingly then, more than half (55 per cent) of the boards surveyed held a dedicated board strategy session during the year. The majority of boards that did not hold such strategy sessions said that this was because strategy was "largely management's responsibility".
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