Initiativesinboardroom

Connecting the right dots is important for both triggering creativity and improving organizational responsiveness and strategic flexibility from the boardroom to the shop floor.

Modern corporate boards play significant roles in guiding businesses in 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 are the multiple perspectives of shaping a strategic boardroom.

     Boardroom Initiatives 

Initiatebodpractices Due to hyper-complexity, uncertainty, ambiguity, and velocity of the digital era, the fast-paced changes and overwhelming growth of information bring significant opportunities for business growth and unprecedented risks businesses have to face. Strategic oversight and performance monitoring become even more critical to businesses' survival.

Initiateboard’sbottomupconsensus Under today’s “VUCA '' business dynamic, corporate board directors need to gain an in-depth understanding of the organization and its eco-environment in order to steer their company in the right direction. The style of governance depends on the management style and business culture. Top BoD leaders should have awareness on what is going on at the bottom levels of the organization to ensure in-depth understanding and compliance. They should have a bottom-up consensus approach to governance for it to be effective and accepted.

Initiatingcultureassessmentinboardroom Culture is the competitive advantage of the business, and the cultural aspect is an intrinsic factor that drives the organization's business longevity. An organization with excellent culture is arguably capable of providing great results in their competencies. Leadership as a system is wrapped in a culture of openness and emergence. Besides strategic oversight, the contemporary corporate boards play important roles in assessing culture impact through the following aspects, and setting culture tones to accelerate business performance.

Corporate Board’s “Balance” Practices The role of corporate board members should always focus on the strategic initiatives of the organization amidst the mounting pressure of governance, regulatory compliance and risk management responsibilities, enable and direct the management towards good outcomes, develop the best and next boardroom practices, and ensure the business is on the right track to reach well-defined business goals.

Intercoonnectionofboardroom The contemporary BoDs as the top directorial role oversee business strategies, practice governance discipline, help senior leaders identify blind spots via the “outliers” views and provide invaluable advice via connecting the wider dots. Connecting the right dots is important for both triggering creativity and improving organizational responsiveness and strategic flexibility from the boardroom to the shop floor. Here is a set of digital dots digital boards should connect fluently.

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Posted in: Board Room,Sum UP