Friday, April 13, 2018

The Monthly “Digital Boardroom: 100 Q&As” Book Tuning: How to Build the Digital Board with Changeability Apr. 2018

The primary role of the Director is to provide strategic oversight, setting governance principles, and making the judgment on an assurance of corporate action within a framework of practical knowledge.

Modern corporate boards play significant roles in guiding businesses toward the right direction and achieve expected business results. Due to the “VUCA” characteristics -Complexity, Uncertainty, Ambiguity, and Velocity of the Digital Era, the directorship in any organization must have the agility to adapt to changes and build abilities to advise, inspire and motivate a group of people toward accomplishing shared visions and goals. Here is the monthly “Digital Boardroom” summary of the digital board’s innovation inquiries.

                 The Digital Board with Changeability


The “Change Agent” Board of Directors Change is the only constant, and the speed of change is increasing rapidly. The board directors should become interactive change agents that represent the organization, stockholders, and senior management, make a significant influence on setting digital tones and shaping the digital mindset of the organization, both walk the talk and talk the walk and set the digital tone for others to follow.

A Board with High Changeability Contemporary corporate boards play a critical role in overseeing strategy, advising management, and monitoring performance. They also set the tone for digital leadership and business transformation. Change is the new normal, the speed of change is increasing in the digital era. However, many well-run and governed organizations often fail to change or innovate and we are seeing the world where challenging change and innovation is a constant threat to established organizations. So, how can the digital BoDs advocate changes and build a digital board with high-changeability?

A Dynamic Board with Digital Fit BoDs As always, the spirit comes from the top, leadership is a key success factor for any organization's success. With many organizations and the society as a whole reach the inflection point of digital transformation, modern corporate boards as a top governance body play a crucial role in setting business culture tones and driving organizations’ digital transformation. Due to the complexity, uncertainty, ambiguity, and volatility of digital age, the directorship in any organization must have the ability to guide, inspire and motivate a group of people toward accomplishing shared visions and goal. But how to identify the digital fit BoDs and how to build a dynamic board to adapt to the rapid changes

Digital Boardroom Tuning: An Adaptive Board? Corporate Board plays a significant role in over-sighting strategy and practicing governance discipline. The board needs to retain the ability to capture immediate and future opportunities which will enhance their shareholders’ benefit. What makes a board adaptive and effective has to do with cognition, skills, and attributes of BoDs, and that is the most difficult to access. With the increasing speed of changes and unprecedented business velocity and uncertainty, what is the composition of the board in terms of minds, skills, and experience need to be in order to add value to achieving the shareholders' expectations? And how to build an adaptive board with learning agility and complementary capabilities and skills to lead through the ongoing changes and radical digital transformation?

Digital Tuning: How to Innovate Boardroom The primary role of the Director is to provide strategic oversight, setting governance principles, and making the judgment on an assurance of corporate action within a framework of practical knowledge. If they do their jobs right, the executives and management team can do their jobs in a well-orchestrated fashion as well. Innovation is one of the crucial components of the corporate strategy, which role the BoD should play in both management innovation and innovation management? Or the first step first, how to innovate Boardroom?

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The "Digital Boardroom: 100 Q&As" Slideshare Presentation

















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