Thursday, September 1, 2016

“Digitizing Boardroom” Conclusion: Running a Digital Ready Board

A digital-ready board has the advantage of pulling enough resources and pushing the business to reach the next level of digital maturity. 

Due to the increasing velocity and variety of changes in the digital era, organizations today have to live up with the business dynamic which is uncertain, ambiguous, complex and flux. The board in a high-level leadership position plays a crucial role in business advising and monitoring, as well as setting key digital tones in organizational culture styles and leadership quintessential. Running a digital ready Board is not an overnight sensation, but a well-planning journey and continuous improvement.




Digital mindsets: With increasing speed of change, it is in the BoD’s mindset to either adapt or embrace changes. It has been said that to embrace change requires a change of mindset at every level of the organization and an understanding that things cannot stay the same. Therefore, BoDs and top leadership teams make a significant influence on shaping the digital mindset of the organization, it requires that you move from fixed mind to growth mind, from static mind to agility mind, so that it allows the mind to seek possibility or to make impossible possible. As the saying is going,”the most expensive thing anyone can own is a closed mind.” BoDs with digital mindset can break down silo thinking, hierarchical leadership mentality, to drive as well as adapt to changes effortlessly.


The composition of digital Board: The best fit for the board depends on the Board’s current makeup, culture, and which “gap” needs to be filled. The Board is responsible for ensuring an appropriate mix of skills, knowledge and experience are present or available for it to fulfill its function. So the Board composition needs to embrace both cognitive difference, functional difference, and other experience/capability difference. Whereas what interested in BoD is mindfulness. Appreciates that the value of alternative perspective and insights which say nothing of not trusting, simply looking from a different stance, and asking different questions. The important issue is how the Board accommodates diverse opinions and assesses them and converges the diverse thought into wise decisions all BoDs support.


The outlier’s view from digital BoDs: The Board provides an “outside-in” view of businesses and multi-dimensional lenses to oversee and advise business strategy and execution to steer the business to the right direction. The most important function of any Board is the oversight of a holistic company strategy and execution through focused leadership, monitor its implementation and results, amend wherever necessary to match changing marketplace conditions, and by doing so to ensure the long-term prosperity of the business, also oversee the management of risks to the reputation, viability and profitability of the enterprise.

Evaluation, analysis, and strategic planning for the long term should top the list in the digital board’s agenda. A digital-ready board has the advantage of pulling enough resources and pushing the business model of technology, trustworthiness, prepare and launch change, innovation, and mastering with digital fluency to make profound leadership influence.


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