BoDs as top leadership roles need to envision, proactively influence changes, reinforce digitalization and lead the organization towards its future confidently.
Modern corporate boards play significant roles in guiding businesses in 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 are the multiple perspectives of digitizing boardroom.
The Corporate Board as the Digital Guardian
The BOD's Three Oversights of Digital Transformation The beauty of the digital landscape is the fresh insight of business. The digital paradigm is an emerging ecosystem of principles, policies, and practices that set limits or boundaries, also offer the guidance for problem-solving or creating something new under the digital rules, keep information flow and achieve a state of dynamic balance. An effective board enables and directs management towards good outcomes, and ensure the business is on the right track to reach well-defined business goals. What are important oversights the board can offer about digital transformation, and what are the possible governance methods, techniques, structures, etc, help to improve the boardroom effectiveness?
The Digital Board’s Digital Inquiries Digital era is hyperconnected, volatile, complex, uncertain and ambiguous. It is the digital paradigm shift. Adopting a different paradigm is like changing the glasses and new possibilities might emerge. The corporate board plays an important role in overseeing digital strategy, advising executive teams and monitoring performance. To run high performance and high mature digital organization, it is important to bridge the multitude of leadership and management gaps and creating the momentum for speeding up changes. Here is a set of the digital board’s digital inquiries.
Digitizing Boardroom: Three Perspectives of Innovation Oversight and Governance Every organization is different, every innovation initiative is also unique, there’s no one size fitting all innovation practice, that makes innovation still be serendipitous for many organizations. Therefore, innovation governance is an important perspective to improve the innovation management success rate. Innovation needs a level of guidance, it has to deliver business objectives, it needs the right kind of governance to thrive. Innovation governance is to advocate, steer, and sustain innovation with the following perspectives.
The BoDs as Digital Qualifier The digital era upon us has the “VUCA” characteristics - velocity, uncertainty, complexity, and ambiguity. It implies both business opportunities and risks on the way. Digital boards play the crucial role in guiding the business in the right direction and setting good policies to encourage positive changes. They are also the digital qualifier who work closely with management to ensure the overall business quality, performance, and maturity.
Reinforce Digitalization in the Boardroom The new paradigm arises out of new knowledge, the emergent trends can shape the behavior of future enterprises and some have been happening already. BoDs as top leadership roles need to envision, proactively influence changes, reinforce digitalization and lead the organization towards its future confidently.
"Digitizing Boardroom" Book Introduction, Slideshare Presentation
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