Wednesday, April 5, 2017

Building an Ultramodern Board to Lead Digital Transformation

An ultra-modern board is built based on progressive mindsets, leadership dynamic, advanced skill sets, and learning agility.

At today’s “VUCA” digital dynamic, organizations face both unprecedented opportunities to grow and hyper-competition or great risks to survive. Therefore, the corporate board as the top leadership team and governance body should become the advanced mastermind behind the digital transformation, to envision, inspire, influence, and innovate. Because the substances of leadership are all about vision, change, positive influence, and progression. The spirit comes from the top, an ultra-modern board can amplify leadership influence, advance the digital management mentality and lead digital transformation seamlessly.

The ultra-modern board is composed with BoDs, who have the advanced mindsets to think further with a clear vision and profound insight: Vision is a future state of being, vision makes you feel passionate about what is going to happen - the opportunities. The corporate board plays a critical role in setting guidelines, envisioning, and overseeing the business strategy. This role affects most through collective mindsets, congruent behaviors, continuous endorsement of the change and regular communication to keep the momentum. Digital transformation is an evolutionary journey which means, a renewed understanding of the future of business; what’re the disruptive trends; how your organization catalyzes the positive and progressive changes and how much better one can do to leverage creativity and lead a seamless transformation. Change the game is a mindset. the visionary BoDs have the ability to think the past, perceive what is now and foresee the future in pursuit of advancement. The digital BoDs with ultra-modern mindsets can practice open leadership, think “out-of-the-box,” sharpen leadership skills such as decision-making, delegation, and monitoring. They can provide a direction based on their clear vision and sound judgments for leading digital transformation seamlessly.

An ultra-modern board can help to set an innovation climate that is sustainable and drives future growth: Digital is the age of innovation. No longer are boards sitting in a room and just voting on various policies, to focus on compliance only. If the innovation represents creating a significant change to the company, this must be presented to the board. BoDs have to proactively evolve with both innovation management and management innovation. Every board should have an innovation committee or have innovation somehow weaved into its oversight responsibilities. The role of the Board is to help and encourage the senior management team to set an innovation climate. So, the leadership team must create a corporate culture where innovation thrives. And the management team can gain a huge advantage for their organization if they seek and utilize innovation in equipping their organization to build and maintain multiple cultures and connect all the right dots. Digital means to break down the past and lead toward the future with a quantum leap. An ultra-modern board can set a clear choice among future scenarios that advocate advancement and promotes positive behaviors. Boards must continually evaluate the management team to determine if the right strategy and culture are thriving in the organization and to proactively drive the future growth of the business.

An ultra-modern board is information savvy and IT-friendly: The modern society always has some connotation with the advanced technologies, which bring quality, convenience and make a significant impact on both individuals’ life as well as the organization’s development and performance. Information is the lifeblood and one of the most invaluable assets in modern business today, technology is often the disruptive force behind the digital transformation. Therefore, an ultra-modern digital BoDs need to become information savvy and technology-friendly. It does not necessarily mean today’s BoDs should become the technology guru or IT geek, it does mean that digital BoDs need to have learning agility, and their inherent nature and ability to adapt allows them to do just that, learn, adapt and provide valuable insights that truly no one else can or could see. Boards can no longer avoid, delegate or ignore the need for technical competence among their ranks. Forward-thinking organizations across sectors declare they are in the information management businesses. An information savvy board becomes more strategic and agile to fit the digital new normal. Understanding the importance of IT to the company’s business model and growth is important for effective oversight of IT investment and technology initiatives. BoD leadership needs to be future-oriented. A tech-savvy board will have the advantage of pulling enough resources and pushing the business model of technology, building trustworthiness, to ensure what happens next and lead the digital adventure with confidence.

The corporate board as an oversight and guidance role needs to be ultra modern and super-advanced, BoDs as top leadership roles should have multi-intelligent wisdom, to envision and lead the organization towards its future confidently. The first principle of building an ultra-modern Board needs to be open-minded, foresightful, knowledgeable, innovative and committed in order to contribute to strategy oversight when required and effectively at all times. Leadership is to innovate, not a status quo; leadership is to move forward, not backward. An ultra-modern board is built based on progressive mindsets, leadership dynamic, advanced skill sets, and learning agility.


Post a Comment