Monday, August 28, 2017

The Monthly “Digital Boardroom” Book Tuning Aug. 2017

10:59 PM Pearl Zhu No comments

The boardroom composition will directly impact on how they lead and which tone they will set for the entire organization to follow.

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.

The “Digital Boardroom” Book Introduction

The New Book “Digital Boardroom: 100 Q&As” Chapter 1 Introduction The Digital Board’s Composition Inquiries Contemporary boards play the crucial directorial role in business strategy oversight, performance monitoring, business advising and policy setting. The boardroom composition will directly impact on how they lead and which tone they will set for the entire organization to follow. The question is whether there are enough people with proficient skills and expertise to do the job in the heat of today’s boardroom facing business uncertainty, rapid changes, continuous digital disruptions, and unprecedented competitions.

The New Book “Digital Boardroom: 100 Q&As” Chapter 2 Introduction: The Digital Board’s Digital Inquiries Digital is about the accelerating speed of changes and abundance of information. The board needs to retain the ability to capture immediate and future opportunities which will enhance their shareholders’ benefits. To lead effectively, the board needs to be able to leverage diverse viewpoints via listening, brainstorming, and questioning, make effective decisions via critical thinking, independent thinking, strategic thinking, and system thinking, and become the “mastermind” behind the digital transformation. Here is a set of the digital board’s digital inquiries.

The New Book “Digital Boardroom: 100 Q&As” Chapter 3 Introduction: The Digital Board’s Digital Vision/Strategy Inquiries Digital Boards help the business oversee business strategy via identifying and closing decision blind spots, pinpointing decision fatigue, and monitoring business performance. The most important judiciary duty of any corporate board is the oversight of a holistic strategy management of the company through focused leadership, monitor its implementation, and performance results, amend wherever necessary to match changing marketplace conditions, and by doing so to ensure the long-term prosperity of the business. However, many board directors are undereducated about their role while the business change is accelerated across global scope and knowledge life cycle is shortened.

The New Book “Digital Boardroom: 100 Q&As” Chapter IV: The Digital Board’s IT Inquiries? The digital new normal means that the change is inevitable and the speed of change is increasing due to the exponential growth of information and robust digital technologies. Digital board directors today need to become information friendly and technology savvy. The board's oversight of information management agenda helps to highlight the strategic perspective of IT and improve its differentiated value. An IT-savvy board will keep curious to ask insightful questions, have the advantage of pulling enough resources and pushing the business model of technology.

The New Book “Digital Boardroom: 100 Q&A” Introduction Chapter 5 The DIgital Board’s Leadership Inquiries At today’s “VUCA” digital dynamic, organizations face both unprecedented opportunities to grow and hyper-competition or great risks to survive. A high-mature digital board is like a lighting tower to navigating the business toward the right direction and taking all these significant responsibilities more thoughtfully. The digital board directors should be mindful, insightful, innovative, and decisive, and become the mastermind behind the digital transformation.