The role of boards of directors in corporate governance and strategic planning in agribusiness
DOI:
https://doi.org/10.61308/WZQQ1392Keywords:
agribusiness, boards of directors, corporate governance, corporate strategy, strategic planningAbstract
This study aims to examine the role of boards of directors in corporate governance and strategic planning in agribusiness by exploring the interrelationships among corporate governance structure, corporate strategy, organizational performance, and the competitive position of agricultural enterprises. Particular attention is given to the contribution of boards of directors to the formulation, oversight, and implementation of strategic decisions, as well as to their influence on the long-term development and sustainability of organizations.
The study is based on a systematic literature review and comparative analysis of scholarly publications on corporate governance, strategic management, and agribusiness management. The analysis covers key concepts related to strategic hierarchy, corporate strategies, organizational life cycle stages, the role of boards of directors, and strategic planning committees. Based on this review, a conceptual framework is developed that integrates corporate governance structure, stakeholder relationships, corporate policies, board characteristics, organizational life cycle stages, corporate strategy, organizational performance, and competitive positioning.
The findings indicate that effective corporate governance is a critical determinant of successful strategic development in agribusiness. Stakeholder structure, corporate policies, and board composition significantly influence the selection of appropriate corporate strategies aligned with the enterprise’s stage of development. The implementation of growth, stability, or retrenchment strategies has a direct impact on both financial and non-financial dimensions of organizational performance, including profitability, productivity, employee and customer satisfaction, corporate social responsibility, and sustainability. The study further demonstrates that the active involvement of boards of directors in strategic planning enhances the quality of managerial decision making, strengthens the competitive position of agribusiness enterprises, and contributes to long-term value creation and sustainable organizational development for all stakeholders.
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