Wednesday, March 14, 2018

The “Futuristic” Digital Board

Vision is an integral part of the directorial role, it is something you engage in as a matter of continuous practices.

When we jump into the digital future of “VUCA” new normal –Volatility, Uncertainty, Complexity, and Ambiguity, the digital leadership today must be able to steer the organization in the right direction. Corporate boards today mostly composed of seasoned business executives are no longer just the controller to ensure business compliance, they should have a clear business vision to predict emerging trends in the business, technology or industry. So, they can guide the executive team in the right direction and play the management advising role effortlessly. To discuss further: What is the profile of the “futuristic” digital boards, what’s the business insight those boards can offer and what are the great benefits they can provide for the business’s long-term prosperity?

A digital trendsetter:
Board directors are the leadership role, leadership is all about direction and change. leadership is the adventure to explore unknown, and have confidence and insight to navigate the business on the right path. By focusing forward, businesses are able to more accurately judge the coming curves and obstacles in their path. At the board level, vision helps to predict the macro trends, assist in "seeing" and bringing clarity to the future within the business ecosystem and beyond. Vision is a foresight with a proactive understanding of cause and effect, not just reactive seeing. Visionary boards have a clear choice among future scenarios that advocates future trends, set digital principles, and promote certain behaviors. The digital BoD leadership needs to be future-oriented and further looking. The positive and forward-looking view is more about thinking ahead, to predict, prepare and overcome the challenges and uncertainty on the way to the future. The vision thing matters in the boardroom. It is through identifying the “destination,” BoDs can steer the organization into the uncharted water, focus on what the organization needs to look like alongside the impetus and sense of urgency, toward the destination steadfastly.

A digital landscape designer: 
To envision is to shape the future together. Today, BoDs as the directorial role needs to play an important role in both envisioning and participating a long-term business vision of the organizational development, and become the great digital landscape designers. Digital leaders play a crucial role in co-creating future, sharing the vision. The "view of the digital landscape” has many dimensions - technically, scientifically, philosophically, psychologically, and sociologically. You have to look into an unknown future and attempt to define the landscape with its risks and opportunities, and shape your own unique viewpoint. Thus, the vision thing needs to be revisited when the board directors oversee the business dynamic, open their minds to absorb the new knowledge and open their eyes to see things differently. It is especially important to transform old mental maps, co-design a digital landscape, and lead a radical digital paradigm shift both confidently and cautiously.

An insatiable innovator and an insightful innovation evaluator: Senior leaders such as board directors need to have unique insight and profound knowledge in their own domain. One can see an egg another sees an omelet, to envision the substance of things unseen is the inspiration for innovation and the trait to be the visionary leader. A vision re-conceptualizes the future, connects the previously unconnected dream and clarify "the art of possible." It spurs imaginations and opens the mind to new concepts and ideas. Vision should be the common topic in the boardroom. The digital board directors need to have the interdisciplinary understanding of the business, frame bigger thinking boxes, in order to become insatiable innovative leaders and insightful innovation evaluators. Innovation comes with a foresight to envision a need that others overlook or ignore and a willingness to forge ahead to satisfy visions, in spite of a risk of failure.

The business digitalization journey is full of velocity and uncertainty. Thus, a clear vision is in demand. Foresight is an ongoing conversation in the boardroom. It is something you engage in as a matter of practices. Vision is an integral part of the directorial role, and building a futuristic board is to improve the board’s adaptability to changes and increasing their leadership influence.

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