The meeting cost about $100,000, but Augat says it was well worth it. "Sometimes you have to look at what's necessary to push an organization to the next level," he says. "As the CFO you may be happy if you saved the $100,000, but you'll cost yourself a lot more in the long run."
Lori Calabro is deputy editor of CFO.
Meeting Magic
While "strategic meeting" may sound like an oxymoron, it doesn't have to be that way if you keep a few simple concepts in mind:
- Prepare, prepare, prepare. A facilitator should devote four days in advance for every day the off-site is expected to last.
- To foster true give-and-take, keep attendance to a maximum of 12.
- Don't overload the agenda. Know what outcomes you want to achieve.
- Match the style and activities of the off-site to your company's culture, but don't shy away from a little "constructive conflict." — L.C.
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