Skip to main content
ivan-soldo
ivan-soldo
Corporate Strategy for Board Members

From operations to strategy: discovering the true role of the board

Ivan Soldo

Chief Risk Officer at Croatian Postal Bank (Hrvatska poštanska Banka)

No level of execution can compensate for a flawed strategy. In fact, strong execution of a bad strategy only accelerates the downfall.

1. What motivated you to join this programme, and what were you hoping to gain?

I was motivated by a need for a more structured approach to strategy setting. As a board member, I wanted to better understand how strategy should be shaped and challenged at board level—not merely approved. I was hoping to gain clarity on the board’s role in guiding long-term direction, beyond operational decisions.

2. How has the programme impacted your thinking or approach to your work?

The week at INSEAD was a process of uncovering. After day one, I realised I didn’t actually know what strategy is—I knew it existed, it was difficult to define, and it was absolutely crucial to a company’s success. No level of execution can compensate for a flawed strategy. By the end of the week, it all clicked—like the reveal in The Usual Suspects when Keyser Söze is finally unmasked. That “aha” moment reshaped the way I think about strategy and governance.

3. What aspects of the programme stood out to you the most (e.g. faculty, peers, content, format)?

The chance to learn from actual board members and company owners who shared real-life examples made the experience extremely relevant. The faculty facilitated deep discussions, but it was the practical perspectives from peers that made the content stick. It also became much clearer how the role of a board differs from that of an executive board—something that’s easy to blur in practice.

Throughout my career, I have assumed both roles—Board Member and Executive. This programme made me aware of the mistakes I was making: as a Board Member I too often drifted into operations, while as an Executive I sometimes leaned too far into strategy. On the final day, the programme provided a clear and detailed distribution of responsibilities between the two boards, which was eye-opening. I also learned a crucial truth: no level of execution can compensate for a flawed strategy. In fact, strong execution of a bad strategy only accelerates the downfall.

4. Can you share a moment or insight from the programme that really resonated with you?

The entire journey felt like peeling back layers. But the most powerful moment came on the final day, when all the frameworks, insights and cases suddenly came together. It was then that the true meaning of strategy—and the board’s role in shaping and safeguarding it—really crystallised for me.

5. Would you recommend this programme to others? If so, why?

Absolutely. I would strongly recommend it to fellow board members and company owners. It provides rare clarity on the strategic role of the board, grounded in real-world experience and rigorous thinking. I’ve even spent time thinking about how to share what I learnt with my fellow board members—it’s that impactful.