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Governance takes place when the Board of Directors, along with other external stakeholders, creates policy for...

Governance takes place when the Board of Directors, along with other external stakeholders, creates policy for management and organizations to follow.What is the strategic approach should be replaced by the "holistic approach"?

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Board of directors along with external stakeholders create policy for Management and Organisation to follow. The policy should be integration of strategic approach and holistic approach because it is important to take entire organisation into consideration before making any strategic policy decisions. While framing strategic policies, worst case scenarios is being expected that may affect the organisation due to economic and political or environmental factor so that policies can protect the entire organisation against any future crisis.

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