Role of the board in establishing organization priorities

The board plays a vital role in establishing organization roles within an organization whenever the resources needed to support operations and implement strategic initiatives can surpass the available ones. Using previous data, the board can be able to determine the kind of priorities that should be considered in the organization. Besides, they can evaluate, analyze and forecast outcomes from the organizational operations. Keeping in mind the structure and design of the organization, the board can prioritize activities that meet the objectives of the organization without jeopardizing other operations. However, the leadership of the board is structured to meet the needs of an organization efficiently (Price, 2018). Therefore, to increase the reputation of the organization, the board can set priorities using limited resources.  

Which winning ideas are worth pursuing

Winning ideas that are worth pursuing are known because the organization sets priorities that meet and improves the performance of the organization. However, some of the ideas that are tabled are not worth pursuing because they cannot meet the objectives of the organization. Secondly, if the idea is realistic and viable, it is worth pursuing. Analytics can be used to determine the viability of the concept

How an organization can tackle ambitious plans while operations stay intact

An organization can address ambitious plans depending on the success rate of the organization. Also, the impact that plan can cause to the organization if pursued is considered. The best way organizations tackle such ambitious plans without jeopardizing other operations is by developing a central committee to supervise those plans. Also, the organization ensures its revenue base is stable. With that in place, ambitious plans can be tackled.  

Reference

Price, N. (2018). Roles & Responsibilities of a Board of Directors for a Hospital | BoardEffect. Retrieved 18 August 2019, from https://www.boardeffect.com/blog/roles-responsibilities-board-directors-hospital/

By CPA Guru 2 years ago . Marked as helpful (515). Marked as unhelpful (494)