Published by:
Harvard Business Publishing
Length: 6 pages
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Abstract
The formation of a corporate objectives committee, composed of outside, independent directors, stimulates management to organize itself in order to be able to relate to the committee. The board''s development of strategic parameters gives corporate business units an understanding of their mission and enables them to efficiently develop long range plans. The process continues with line management''s development of a strategic plan. Line management then develops operational plans.
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Abstract
The formation of a corporate objectives committee, composed of outside, independent directors, stimulates management to organize itself in order to be able to relate to the committee. The board''s development of strategic parameters gives corporate business units an understanding of their mission and enables them to efficiently develop long range plans. The process continues with line management''s development of a strategic plan. Line management then develops operational plans.