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 shaping a strategic boardroom.
The Strategic Competencies of Corporate Board
Five Building Blocks of the Boardroom Competency Due to the “VUCA” characteristics - complexity, uncertainty, ambiguity, and velocity of the digital era, the directorship in any organization must have abilities for adapting to changes, being able to advise, inspire and motivate a group of people toward accomplishing shared visions and strategic goals. The fundamental dimensions of the corporate board’s responsibilities include, but not limited to strategy oversight, policy-making, performance monitoring, and executive advising. Here are five building blocks of the boardroom competency.
The Strategic Evaluation of Corporate Board Leadership is all about change and directorship is about steering the business in the right direction. The matter of fact is that rapid changes sweeping the business are hugely disruptive and there is nowhere to hide. The corporate board just has to step into the "VUCA" digital new normal, share their vision, exemplify digital leadership effectiveness, develop strategic perspectives, and walk the talk in driving the business transformation relentlessly.
Reinforce Digital Competency in the BoardroomThe 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.
A Board with High Changeability Contemporary corporate boards play a critical role in overseeing strategy, advising management, and monitoring performance. They also set the tone for digital leadership and business transformation. Change is the new normal, the speed of change is increasing in the digital era. However, many well-run and governed organizations often fail to change or innovate and we are seeing the world where challenging change and innovation is a constant threat to established organizations. So, how can the digital BoDs advocate changes and build a digital board with high-changeability?
The Digital Board with Global Competency Global competency is the ability to understand and act on issues of global significance or solve complex problems which have a global impact. Collectively, at the board level, global competency represents the global leadership, mindset, knowledge, insight, expertise, attitudes, skills, and behaviors necessary to thrive in today's hyper-connected and interdependent world.
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