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