Tuesday, November 28, 2017

The Instrumental BoDs

Digital BoDs today are diversified, cogitative, proactive, and instrumental, bring different opinions and viewpoints and orchestrate change and digital transformation seamlessly.

Digital means the fast pace of changes, the abundance of information, and fierce competitions. The digital business ecosystem is open, fluid, dynamic and expanding. Due to the “VUCA” digital new normal, the directorship in any organization must have the ability to inspire, guide, motivate, and adapt. In fact, the contemporary board has to play an instrumental role in exemplifying leadership, influencing changes and orchestrating digital transformation.

Instrument a high-responsive, high-innovative and real-time digital organization: Digital transformation represents a break from the past, with a high level of impact and complexity. The digital-savvy board has to gain digital awareness, shape the digital mindset, and improve digital fluency in order to play an instrumental role in leading business transformation seamlessly. Digital BoD as one of the top leadership pillars in the company has to leverage the different points of views to truly become the strategic advisor of the business, conduct changes, and steer the business in the right direction to survive the fierce competition and thrive with the long-term business advantage. The instrumental BoDs also evolve planning, adjustment of speed, and frequently aligning business priorities for improving performance and maximizing the digital potential of their organization.  

Instrumental BoDs broaden the business outlook and envision the bigger picture of digital transformation: The board provides an “outside-in” view of businesses and multi-dimensional lenses to oversee and advise business strategy. The instrumental BoDs leverage critical thinking and strategic thinking to gain a better understanding of the digital business ecosystem in order to play their instrumental role more effectively. Boards are getting better as the awareness grows of how important board composition is in order to lead in today’s digital dynamic. The more a board represents or mirrors its stakeholders, the better served will be the organization. The high performing Board shows the ability and openness to "question itself and its decisions/ discussions." They can provide excellent feedback which gives the top management constructive feedback to improve and a clarified opinion to contemplate. The instrumental BoD works as a collaborative team to accommodate diverse viewpoints, assess them, and converge the diverse thought into wise decisions.

Instrumental BoDs set policies and principles for guiding changes and digital transformation: The challenge of managing change is tough, and those firms that can accomplish this feat will have the ability to tackle other challenges, put an emphasis on speed, strategic responsiveness, and structural flexibility, to run a real-time, high performance and always-on digital business. The digital board can play an instrumental role in guiding the organization to gauging conditions and choices, oversight of appropriation, matching priorities and resources, scoring activity and net results. oversight of accountability, Timing is always important, change is inevitable. An instrumental digital board can navigate the business toward the uncharted water and drive change more confidently.

Digital BoDs today are diversified, cogitative, proactive, and instrumental, bring different opinions and viewpoints and orchestrate change and digital transformation seamlessly. Board directors are leadership roles, they should not only oversee business strategies and monitor business performance but also set the tone for changes and instrument the journey of the digital transformation confidently.


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