Wednesday, December 13, 2017

The Bridge-Like BoDs

A bridge-like digital board has the advantage of mixing the emergent next practices and the best practices, pulling enough resources and pushing the business's progress.

A high mature digital board is like a brighter light tower to guide the business in the right direction and take all these significant responsibilities “thoughtfully.” The forward-thinking digital board is also like an amazing bridge to connect the industrial age and the digital era, make good policies and develop the next practices for ensuring the business digital ready.

Bridge yin and yang to achieve digital balance: The Board's role, in large part, is to make good decisions on overseeing the business strategy and enhancing the value creation for the organization. Boards need to perform and conform at the same time. They also need to strike the right balance between setting rules and advocating innovation. Yin and yang balance is used to describe how polar opposites or seemingly contrary forces are interconnected and interdependent in the natural world, it also reflects the world we live in economically, socially, politically, and environmentally. A balanced board can monitor performance and practice governance effectively. Because conformance without performance adds very little to the business value. Performance without conformance is not genuine as well. The board can also provide the level of guidance to advocate, steer, and sustain innovation.

Bridge leadership and directorship to advocate forwardship: The digital future is about connectivity, intelligence, sustainability, true understanding, and collaboration. At the industrial age, the leadership is about command and control to practice reductionistic linear classic management philosophy. People in leadership positions assume they have all the answers because the business is considered static and there’s a scarcity of information. With an abundance of information and the increasing pace of changes, technology trend will keep emerging and last. The corporate boards as the directorship role and one of the most important leadership pillars are crucial in bridging today’s uncertainty into tomorrow’s conscious progress and advancement and bridging today’s control-driven management style into tomorrow’s trust-based and self-management practices. The challenges that organizations face in making a seamless digital transformation take time to deal with because it needs to well facilitate people, resources, and technology, etc. Thus, the board is critical to orchestrating an impressive digital symphony.

Bridge management disciplines and governance practices to improve business maturity: The important characteristics of digitalization are over-complexity, uncertainty, and ambiguity. Digital boards help the business management identify and close strategy blind spots, pinpoint decision fatigue, monitor strategy implementation and performance results, amend wherever necessary to match changing marketplace conditions. Governance is like the steer-wheel to ensure organizations running in the right direction and head to the destination. Governance and Risk Management do indeed overlap and are both important to achieving the To-Be state. While the board is the custodian for both. The boards play crucial roles in bridging the multitude of management disciplines and governance practices, having the oversight of the business assessment, gauging conditions and choices; oversight of management practices, creating interdependencies that powerfully affect the rate at which the situation can be improved, matching priorities and resources; oversight of accountability, scoring activity and net results.

A bridge-like digital board has the advantage of mixing the emergent next practices and the best practices, pulling enough resources and pushing the business model of technology, trustworthiness, prepare and launch change, innovation, and mastering digital fluency in steering business transformation and amplifying leadership influence.


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