Nairobi, Sept. 1 -- Most board strategy retreats fall short not because they lack information, but because they devote too little time to strategic thinking.

Over the next few weeks, many boards will leave their usual boardrooms for annual strategy retreats. The intention is to step away from the regular board agenda and reflect on the future. What conversation does the board need to have at the strategy retreat?

For a business midway through an approved strategy, the priority may be assessing execution and considering whether developments since its approval have changed the circumstances facing the business. For one approaching the end of its current strategy period, the opportunity is to help shape the direction of the next strategy p...