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About the course
The changing nature of governance in the global business economy means today’s directors and their boards must rethink the way they view and address strategy.
Strategy has become a greater concern for boards, thanks largely to its close link to competitiveness and sustainability – both of which have become harder to achieve in today’s turbulent and hyper-competitive business environment. Strategy is also tied to another important board concern: risk management, which can be defined as anything that prohibits strategy goals from being attained.
The complex forces shaping the new global world have a direct impact on the board’s agenda and on the decisions that boards need to make. Boards need to take greater responsibility for their organisation’s course in this new global environment, which offers great challenges but also new opportunities, and where the usual distinction between local and global has fundamentally altered.
Through its Corporate Governance Centre, INSEAD’s Advanced Strategy for Directors programme aims to deepen directors’ understanding of the complexities of this new business landscape. A dynamic mix of lectures and discussions enables participants to review and explore key issues such as the impact of digital technology on strategy and organisations, and on the role of the board. Role playing allows directors to practise formulating, implementing and evaluating strategies in a board environment. By developing their strategic competencies in such ways, directors – both executive and non-executive – will be better able to help their organisations mitigate risks and capitalise on opportunities.
HOW YOU BENEFIT
- Deepen your understanding of the strategic challenges brought about by today’s global environment (from both internal and external perspectives)
- Review and explore how boards, in collaboration with executives (and consultants), can play a role in anticipating and overcoming such challenges
- Engage with topical issues such as the growing impact of digital technology on strategy and organisations, and on the role of the board
- Practise formulating, implementing and evaluating strategies in a board environment
- Develop your strategic competencies as a director
The Program Advanced Strategy for Directors is built around the following major themes:
- Understanding the necessity of constructing competitive advantage, particularly in today’s turbulent global environment
- Reviewing the key questions of disruption and substitution, the role digitisation holds in relation to these, and opportunities for building critical mass in these new environments
- Recognising the growing importance of an organisation’s ecosystem and dynamics, and their implications for profit opportunities
- Deepening our understanding of the changing nature of the business environment, with an emphasis on the global and digital transformations of our world
- Examining the implications of these contextual changes for organisations and their strategies, and conversely recognising the constraints such contexts impose on strategy
- Reviewing the processes required for boards to address these issues effectively.
Most of the content presented in this programme has been developed by the INSEAD faculty and is unique, even though it deals with generic and vital issues affecting every organisation.
PROFIT DYNAMICS IN INDUSTRIES AND INDUSTRIAL ECOSYSTEMS
This session provides models and tools to help board directors navigate the strategy field in ecosystems where circular dependence among firms makes the task more complex than in more linear and less interdependent environments.
CONSTRUCTING COMPETITIVE ADVANTAGE
Identifying new value opportunities is an essential part of the search for competitive advantage. While value creation opportunities are in constant flux, the mechanisms for establishing competitive advantage are relatively unchanging. This session discusses these mechanisms.
SUBSTITUTION, DISRUPTION AND DIGITISATION
This session helps board members reflect on how to anticipate and reflect upon the vagaries and opportunities of substitution and disruption. It zooms in on the opportunities and challenges of substitution, models that predict the impact on firms and markets, and possible responses for incumbents.
PLATFORMS AND ECOSYSTEMS: BUILDING CRITICAL MASS
Success and failure in ecosystems tend to occur much faster than in traditional linear supply chains, due to the circular dependencies among firms. This session addresses several questions related to creating and winning in ecosystems.
“OUTSIDE-IN”: THE CHANGING NATURE OF THE BUSINESS ENVIRONMENT
Having examined the fundamentals of strategising, we now turn to novel aspects of strategy in the modern world. This session explores how the outside world – the organisation’s environment – shapes the company’s business strategy and impacts the company’s performance, and what this means for the board of directors.
“INSIDE-OUT”: THE INFLUENCE OF THE ORGANISATION ON STRATEGY AND ON ITS ENVIRONMENT
In the second “macro” session, we turn inside the company and examine how the organisation (structure, culture, politics) impacts the company’s performance.
STRATEGY MAKING IN AN EMERGING DIGITAL WORLD
This session explores examples of companies facing digital disruption to reflect on the relationship between strategy, the organisation and its environment. We will also examine the role of the board in the strategy-making process.
STRATEGY AS PROCESS
Explore how the board can ensure that a well-structured process is in place, and that sufficient attention is devoted to the development, monitoring and adaptation of the organisation’s strategy.
Who should attend
- Directors, executives and shareholders interacting with boards in the formulation and oversight of strategy
- Members of the INSEAD Directors’ Network, which is made up of former participants of the International Directors Programme (IDP) and the IN-BOARD programme
- Master in business administration (MBA) Alumni with board experience (board members, C-suite executives and professionals working with boards)
Trust the experts
Professor José F.P. dos (Joe) Santos started an academic career in engineering in the early seventies in his home town of Porto, but soon after moved into the managerial world. Twenty years later, Joe decided to retire from an intense and successful executive career after he held for ten years th...
Karel Cool is a Professor of Strategic Management and the BP Chaired Professor of European Competitiveness at INSEAD. His research, teaching, and consulting focus on problems of industry dynamics and competitive strategy (e.g., competitive positioning; assessment of profit opportunities in market...
Ludo Van Der Heyden
Ludo Van der Heyden has been Professor of Technology Management at INSEAD since 1988. He is actively teaching in the MBA, Executive, and PhD Programmes. He holds the INSEAD Chair in Corporate Governance. He is actively contributing to the MBA, Executive and PhD Programmes, and is the Academic Dir...