Are you sure that your “subjects” are always telling you the truth ...?
Do they follow you voluntarily or are they just being “obedient” ...?
Do you actually always get the information you need for important decisions ...?
Are your “subjects” allowed to point out to you your mistakes ...?
Does criticism mean “lese-majesty” to you ...?
Are you a “wise regent” or only a “despot” ...?
In former times the court jester used to be the only one who was allowed to tell the regent the unvarnished truth. He noticed if self-perception and outside perception differed and wrapped this into jests and songs he then performed.
You as a board member or a CEO of modern days have to deal with quite similar problems as the kings of old: Your employees may not always tell you the truth. Not because they are wicked people. But you should take into account that your employees may simply be afraid of you and your position.
The target: impact.
Being your court jester I find out what is really happening around you and what impression you make on others. I accompany you and observe how you act internally and externally. I examine your impact and the impression you make on others. (Sometimes) I make compliments, (frequently) I criticize and (now and then) I give advice. (Unlike the court jester of the Middle Ages I will refrain from singing.) I show you rigorously the possible consequences of your thoughts and deeds.
Only the truth will set you free and will thereby give you the freedom to act. If you know your impression on others you can change it. Dare to make a step towards impact.