I have a view that we should be looking a lot more at strategic risk, and I like to tie it back to value drivers (via objectives?) such as those that drive shareholder value (or whatever your equivalent might be for our organisation).
This leads me to pose several questions:
- Do we as a profession have enough face time with the CEO and Chairmen of our organisations?
- Do we get involved in strategic plans before or after they happen? eg, do we get involved in risk based due diligence after the transaction is announced, or when options for acquisitions are being discussed?
- How often do we, as a profession, facilitate board awaydays focussing on more distant strategy (say 5 to 10 years out)?
- Does anyone have any really good war stories on this that you are happy to share on line?