Friday, December 8, 2017

The Monthly “Digitizing Boardroom” Book Tuning: The Digital Board Profiles Dec. 2017

The Board of Directors is an interactive change agent and influential brand enhancer that represents the organization, stockholders, and senior management.
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, abilities to advise, inspire and motivate a group of people toward accomplishing shared visions and goals. Here is a set of Digital Board profiles. 

              The Digital Board Profiles

  • The Instrumental BoDs 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 the instrumental role in exemplifying leadership, influencing changes and orchestrating digital transformation.

  • The Corporate Board as Digital Brand Enhancer The Board of Directors is an interactive change agent and influential brand enhancer that represents the organization, stockholders, and senior management. If a Board is to fulfill its fiduciary responsibilities to its stakeholders, it needs to take a professional and a structural approach to assessing strategies, prioritizing agendas, advising changes, overseeing risks, monitoring performance, advocating reputation and business brand. The Board of Directors is the top leadership team who can make the great influence on shaping digital mindset and advocating changes. BoDs can also monitor the organizational performance and enforce the business brand via asking the following questions.

  • The BoDs’ Digital Profiles? Due to the “VUCA” digital normality, organizations today have to live up to the business dynamic which is uncertain, ambiguous, complex and flux. Board as high-level governance body plays a crucial role in business advising and monitoring, as well as setting key tones in organizational culture style and leadership quintessential. Corporate boards also need to advocate changes and become the mastermind behind the digital transformation. Hence, today's BoDs need to be insightful, influential, strategic, and highly effective. The best fit for the board depends on the Board’s current makeup and culture and which "gap" needs to be filled. Here is a set of digital BoDs profiles.

  • The Board of Director as “Problem-Definer” The corporate board is one of the most important leadership pillars in modern businesses. In today's work environment, change is happening at a more rapid pace, no one will have all answers, it is important to both frame the right questions and answers them smoothly. At the board level, directorship effectiveness is based on strategy oversight, performance monitoring, and policy making. Often framing the right problems is critical to building the digital board reputation as the insightful “problem-definer,” and the invaluable digital mastermind.

  • The “Change Agent” Board of Directors: Change is the only constant, and the speed of change is increasing rapidly. The board directors should become interactive change agents that represent the organization, stockholders, and senior management, make a significant influence on setting digital tones and shaping the digital mindset of the organization, both walk the talk and talk the walk and set the digital tone for others to follow.

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