Strategy and the board

By Lancashire Business View

16 Oct 2018

mark-heaton-km-chartered-accountants.jpg
In previous articles I have considered strategy of an organisation. This final article brings this to a conclusion by considering the role of the board in strategy.

By Mark Heaton, KM Business Solutions.

Indicators of good practice of a board, according to the Institute of Directors, are: Establishing vision, mission and values, setting strategy and structure, delegating to management and responsibilities to stakeholders.

The development of strategy and structure is part of the decision making role of being a director. The conflict for the board though is avoiding getting too involved in operational and short term decisions.

Responsibility for the effectiveness of the strategic process of a company or organisation is that of the board, and needs to be owned by it, commitment given to it and driven by it.

There will always be tensions when a strategic plan is being drawn up – some board members will be more or less enthusiastic than others.

The culture of a business may seek to hinder fresh thinking but if a board is clear on what it wants out of the process, is united, and encourages staff to get behind it there is more probability of success.

At all times though, there has to be review and if necessary strategy changed accordingly especially when change can come upon you rapidly.

The board also needs to define the purpose of the company clearly – there are many stakeholders (and some of these are set out in the duties of a director in the Companies Act 2006) of a company whose needs are to be balanced with those of others.

It should give sufficient resources to the strategy (if not then the commitment from the board will be questioned). Mark Heaton is managing director of KM Business Solutions Ltd, Chartered Accountants, and is holder of the Certificate in Company Direction awarded by the Institute of Directors.

Latest news

1

SpudBros link up with EG On The Move SpudBros opening in Blackburn

SpudBros link up with EG On The Move

17 Dec 2025

2

“This is Lancashire” film showcases the beauty of the county This is Lancashire video

“This is Lancashire” film showcases the beauty of the county

16 Dec 2025

3

Conlon Construction appoints new chairman as Michael Conlon announces retirement Michael Conlon with Guy Parker

Conlon Construction appoints new chairman as Michael Conlon announces retirement

16 Dec 2025

4

International demand surges for fulfilmentcrowd Lee Thompson fulfilmentcrowd

International demand surges for fulfilmentcrowd

15 Dec 2025

5

PM+M reports strong 2025 performance with growth, innovation, and continued community investment Helen Clayton PM+M

PM+M reports strong 2025 performance with growth, innovation, and continued community investment

15 Dec 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
January / February 2026 Magazine networking event
Mag launch event in Blackpool networking
Networking
22 Jan 2026

January / February 2026 Magazine networking event

Porsche Preston, Preston, PR2 1QJ

08:30 - 10:30

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

RISE - Lancashire's unique leadership programme for women
thumbnail_Emma Weston Illustration WENDY BOWERS RISE Illustrstion.jpg.jpg
LBV Hub Seminars
22 Oct 2025 - 18 Mar 2026

RISE - Lancashire's unique leadership programme for women

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:30 - 15:30

Women scaling up Blackpool Fylde and Wyre
LBV Hub Seminars
22 Oct 2025 - 09 Jan 2026

Women scaling up Blackpool Fylde and Wyre

The Small Business Academy, Blackpool, FY4 5JX

09:30 - 15:30

St Catherine's Christmas Tree-Cycling
Tree Cycling.png.png
LBV Hub Fundraisers
25 Nov 2025 - 10 Jan 2026

St Catherine's Christmas Tree-Cycling

Several locations, Preston, PR5 5XU

10:00 - 13:07

Lancashire post Budget analysis finance leaders events
MHA-BTI Logo_black (002).jpg.jpg
LBV Hub Networking
27 Nov 2025 - 27 Dec 2025

Lancashire post Budget analysis finance leaders events

Farington Lodge Hotel, Stanifield Lane, Farington, Preston, PR25 4QR

08:00 - 10:00

Chamber Business Lunch – December
Logo.jpg.jpg
LBV Hub Social
19 Dec 2025 - 19 Dec 2025

Chamber Business Lunch – December

Morecambe Football Blub, Morecambe, LA4 4TB

11:00 - 14:00

Chamber Breakfast Networking – January
Lancs-cham-logo.jpg.jpg
LBV Hub Networking
08 Jan 2026 - 08 Jan 2026

Chamber Breakfast Networking – January

3-1-5 Health Club, Lancaster, LA1 3PE

08:00 - 10:00

Lancashire County Council – Meet the Buyer - January 2026 Webinar Event
LBV Hub Webinar
13 Jan 2026

Lancashire County Council – Meet the Buyer - January 2026 Webinar Event

10:00 - 12:00

Preston Tech Connection: Tech For Better Humans
PTC January 26 banner.jpg.jpg
LBV Hub Networking
15 Jan 2026 - 15 Jan 2026

Preston Tech Connection: Tech For Better Humans

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Preston Freelancer Meet-Up: January
January Freelancer Meet-Up Square .png.png
LBV Hub Networking
20 Jan 2026 - 20 Jan 2026

Preston Freelancer Meet-Up: January

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 12:00

Lancashire County Council – Meet the Buyer Drop in Event
Meet the Buyer event new
LBV Hub Networking
20 Jan 2026

Lancashire County Council – Meet the Buyer Drop in Event

County Hall, Pitt Street, Preston , PR1 8XJ

10:00 - 15:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV124 Online Graphic
Subscribe now

Weekly news bulletin