Friday, December 9, 2016

The Monthly Insight of the Board Room: How to Innovate Boardroom Dec., 2016

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.

How to Innovative Boardroom

  • Digitizing Boardroom” Book An Innovative Board, Presentation, Video: Corporate boards play a crucial role in providing strategy oversights and make sound judgments and assurance of corporate actions within a framework of practical knowledge. Innovation is one of the most important ingredients of the business strategy, which role should BoDs play in both management innovation and innovation management? Or the first step first, how to innovate the boardroom.

  • Three “IN”gredients of Digital Boards: Due to the complexity, uncertainty, ambiguity and volatility of digital age, digitizing the boardroom is inevitable. The directorship in any organization must have the ability to guide, inspire and motivate a group of people toward accomplishing shared visions and goal, set the leadership tone to influence business “mindset” and lead changes as well as digital transformation. Here are three digital ingredients to improve boards’ effectiveness and maturity. ?

  • Digital Tuning: How to Innovate Boardroom: The primary role of the Director is to provide strategic oversight, setting governance principles, and making the judgment and 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??

  • A Heterogeneous Board: There is no question that businesses need digital leadership in today's boardrooms, with “VUCA” characteristics of business dynamic, overloading information, and globalization as the new normal of business expansion, all of these bring the significant opportunities and responsibilities for the new breed of digital BoDs, and it is crucial to brainstorm on how to build a highly effective board with a heterogeneous viewpoint, and the right mixing of Individualism and collectivism nature, to set the tone of directorship with innovation and influence.

  • An Innovative Board? There are different types of boards around, some Boards are "working Boards" and have to provide hands-on advice, information, and oversight; other Boards have a more strategic purpose in advising the corporate oversight. Many Boards are often stuck with a view of the rear mirror mindset, looking at the past quarter results, supervising the audit, and reviewing a budget of the coming months. Does Board overall spend enough time on planning for the future -that means dealing with innovation choices.

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