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Having some experience of working "in-house" albeit not as a GC but as a property specialist, I would say it is likely that most GCs may spend their time fielding enquiries from all over the place and have little time for "strategic thinking". This is also very much the position of the average solicitor in private practice - inevitably "reactive" unless the structure of the firm dedicates certain individuals (and frees their time) to consider the bigger picture.

I also suspect that GCs are not given the information or opportunity to have any real input...which may not always matter...but with a talented individual who can marry their legal skills with business acumen and a good dose of common sense, boards may be missing out!