Being a Director Part 2

Board's Role in Risk & Strategy

Key focus areas

The board's role in risk

· What is risk and what is the board's role?

· Understanding the difference between risk governance and risk management

· Risk management process including risk assessment, response, monitoring, assurance and reporting

· Common problems re risk and how these can be addressed

· Common categories of risk

· Generic risk strategies

· The role of the risk committee

The board's role in strategy

· Is the business model still relevant and in line with the business strategy?

· What is strategy and what is the board's role?

· Strategic process

· Building blocks of strategy

· Competitive advantage

· Key drivers to strategy

· Porters 5 forces and SWOT analysis

· Trends to consider (environmental scan)

· Evaluation and delivery of strategy (KPI's)

· Linking strategy to performance

· Current SA issues and responses