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You don‘t meet many boards where its members complain that there is not enough to do or that they struggle to fill board time. NEDs are rightly conscious of keeping clear boundaries around the commitment that is expected of them and EDs want to have the right balance between preparing for/attending board and running the business.
Boards are not surprisingly increasingly concerned about ‘getting it wrong’. Broadly speaking that is a good thing as this focus should protect its stakeholders from disastrous outcomes.
Markets evolve. External influences change over time. People come and go. Strategy gets updated. Processes alter and business models get refined. It’s easy for us all to declare we are comfortable with change, because we think that’s how we should be. But it often strikes me that actually the thing that is hardest to change is the way we think about things: our default position if you like.