| McKinsey Classics | December 2019 |
| Boards have a lot on their plates these days: not only addressing current problems, compliance with regulations and the law, and the needs of divergent stakeholders but also serving as effective strategy counselors—a tall order in itself. Yet as new governance responsibilities and faster competitive shifts require boards to play a more important role in developing corporate strategy, familiar problems continue to bedevil many of them.
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| Time is one issue: most boards hold only about six to eight meetings a year and often have difficulty finding enough breathing space to think about the larger issues. Another is expertise: just 10 percent of the directors in a McKinsey survey said that they fully understood the industry dynamics of the companies they serve, so just 21 percent claimed to fully understand their current strategies. Read our 2013 classic “Tapping the strategic potential of boards” to learn how they can improve.
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| Did You Miss Our Previous McKinsey Classics? |
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| Marketing has entered the on-demand era—always “on,” relevant to individual consumers, and responsive to their needs. As the holiday season approaches, read “The coming era of ‘on-demand’ marketing” to understand a future that’s unfolding now. |
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