Tuesday, August 7, 2018

The Monthly “Digitizing Boardroom” Book Tuning: How to Keep the Boardroom Fresh Aug. 2018

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 a set of Digital Board director’s personas.


How to Keep the Boardroom Fresh

Can BoDs bring The Pairs of Fresh Eyes to the Boardroom Due to the “VUCA” characteristics -velocity, uncertainty, complexity, and ambiguity of the digital era, organizations no matter large or small, all face the unprecedented change and constant disruptions. The purpose of the board of directors is to direct the organization in the right direction and monitor its performance. The directorship in any organization becomes more critical and challenging for guiding the business through the uncharted water and steering it in the right decision. Corporate governance is to challenge the management and make sure that management is doing its job properly. Can BoDs bring the pairs of fresh eyes for leading change smoothly?

A Distinctive Board? The purpose of the governing body, or board of directors, is to direct the organization in the right direction and monitor its performance. Corporate governance is to challenge the management and make sure that management is doing its job properly. In a world of well-defined problems, directors are required to exercise leadership influence over volatility, manage uncertainty, simplify complexity, resolve ambiguity all the time. Every board is unique, with its own strength and focus. A distinctive board can stand out as the mastermind behind digitalization and lead change effortlessly.

An Insightful Board At today’s “VUCA” digital dynamic, organizations face both unprecedented opportunities to grow and hyper-competition or great risks to survive. Therefore, corporate board plays a more significant role in overseeing business strategy, setting principles and policies, and making the judgment on and assurance of corporate action within a framework of practical knowledge. Not only do today’s BoDs need to have sufficient knowledge to understand the business ecosystem, but also they need to have the collective insight to present today and foresee the future. But how to build an insightful digital board?

Three Aspects of the Board Refreshment The digital paradigm is an emerging ecosystem of principles, policies, and practices that set limits or boundaries, also provide the guidance for problem-solving or creating something new under the digital rules. The high-performance board makes the disproportional impact on running a high-performance business through their invaluable oversight of the strategy and relentlessly inspiring changes and innovation. To improve directorship effectiveness, there are quite a lot of things digital boards need to shape up, and there are so many issues the boards have to deal with. Here are three aspects of the board refreshment.

Three “Views” to Advance Digital Boardroom: The BoD role sets the top leadership’s tone for progression and affects most through cohesive communication, congruent behavior, and continuous endorsement of the change to keep the momentum. Digital boards are the guiding roles, like the steering wheel of their company, leading the business toward the uncharted water and blurred territories for reaching the ultimate digital destination. Which views can help the board clear their vision and enable them to stay focus and advance their leadership to get digital ready?

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"Digitizing Boardroom" Book Introduction, Slideshare Presentation


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