Executive responsibilities must ultimately map to the pursuit of opportunity and mitigation of downside risk.
Any business exists to pursue opportunity. With opportunity comes downside risk and the business has to mitigate that risk. It is ensuring the benefits of opportunity outweigh the costs of operation and minimising risk that dictates the value of a business.
A strategy that addresses opportunity and risk establishes policy. Policy is then implemented by process. Getting this cascade of strategy to policy to process correct provides the clarity for which most organisations are desperate.
Many organisations lack clarity because they evolved rather than being designed. Hiring experienced people risks inheriting and accumulating elements of process from previous experience creating unnecessary complexity unless process is deliberately engineered.
These posts discuss different aspects of business process as technology and working models take new directions: