How to evaluate the board’s effectiveness

How to evaluate the board’s effectiveness

To effectively evaluate the board, you must have set targets against which you are evaluating the board members.

This calls for an effective governance structure and separation of powers.

At the topmost, there must be the owner of the business. For publicly listed companies, these are shareholders with an equity certificate. The shareholders, at the AGM or annual general meeting, must elect the board members and set clear targets for the board so appointed.

For emphasis, when the owner/ shareholders appoint the board, she/he must give them a score card or targets that are measurable. According to Kaplan and Norton, a balanced scorecard […] Read more

Where and how do you start life after campus?

Where and how do you start life after campus?

Why do some students get great jobs before they live campus while others tend to linger for long on the street looking for some work, just any work and fail to even find it?

The secret is not something you may think. Every year, leaders and top executives approach University lecturers for names of their top students in the class. If you are average, chances that your name could end up with the top bank’s top honcho are high if you just a great student that works closely with the lecturer! You must have a strategy for every situation you face. […] Read more

Without a responsive strategy, it is easy to fall flat

Without a responsive strategy, it is easy to fall flat

The website, https://www.toysrus.com/, might still be on, but Toys R Us filed for Chapter 11 Bankruptcy on 26th September 2017 in the US. In this brief, I explore how poor strategy led to the collapse of this once giant pacesetter in the retail space. When you are big, it is easy to get pre-occupied with the routine at the expense of strategic thinking which has a deadly end.

Toys R Us was one of the leading companies in the toy market.

The company that started 69 years ago, expanded steadily to over 1,600 stores globally, with annual revenues at US $13 billion. However, […] Read more

What is your strategy?

What is your strategy?

Strategy are the choices a company makes to win with its customers against the competition. It is like in a football match or a political race.  How do you win the match? You must do some homework on how you will win: what is the desired result?

Figure yourself being declared the winner for a presidential race and ask: what will it take to win that position? You will need to garner more than 51% of the votes cast by say 10,000,000 approved voters, located in several counties. You must know the number of voters per county and your strong areas.  […] Read more

What is effective strategy formulation and execution?

What is effective strategy formulation and execution?

Strategic planning and strategy execution are two different things. Everyone can plan, but not all plans are easy to execute. If you reviewed the manifestos of so many politicians since 1996, a lot was put on paper, but not achieved. Why? Talk is cheap.

It is easier said than done.

Same thing happens with companies. Great plans are laid, but all fail at execution test. Leaders have a habit of taking a specific group of people for a strategy retreat once in a year. This is a good practice, if the selected team is representative of the core staff from the organization.

Before […] Read more

Strategy perspective: What informs your business model?

Strategy perspective: What informs your business model?

Great leaders focus on having a great strategy and clear execution plan.

To formulate a great strategy you need:

Perspective through Exposure: who are you competing against in your business?
Context: What do you need to change internally to become the best?
Capabilities and systems: what resources do you need to succeed?

The best way to get exposure is through travel or sightseeing and networking. When I go abroad, I make it a point to study the process flow and how value is created for customers, at the different businesses I come across.

In Japan for example, street restaurants create value for customers through saving […] Read more