Thursday, July 18, 2019

The Monthly “Digital Boardroom” Book Tuning: The Board’s Oversight of Human Capital July 2019

The digital Board will help to set the principles to innovate talent management and embrace digital fitness.

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 Board’s Oversight of Human Capital 

Digital BoD’s Digital Inquiries Due to the “VUCA” characteristics - complexity, uncertainty, ambiguity and velocity of the Digital Era, today’s BoDs need to have sufficient knowledge to understand the business ecosystem, with the “outside-in,” whole-of-extended enterprise perspective. The digital directorship should steer their organizations toward uncharted water and blurred business territories confidently and reach the next level of business maturity.

The “Digitizing Boardroom” Book Introduction Chapter 7 A “Talent Master” Board People are always the most invaluable asset to businesses. The digital workforce in organizations today are multi-generational, multicultural and multi-tasking. The traditional talent management practices are often outdated due to the fast pace of changes and continuous digital disruptions. Although knowledge is abundant, insight is still in scarcity. The digital Board will help to set the principles to innovate talent management and embrace digital fitness. Those guiding principles should be at the forefront of the mind of anyone doing the talent recruiting and management because finding the right person who fits the right positions to do the right work will lead to greater success for both individuals and the company.

The BoD’s Strategic Oversight of Three Important "Soft" Corporate Capitals The board of directors as the de facto guardian of modern organizations plays an important role in steering the organization towards the better future, helping business management identify and close blind spots in decision-making, pinpoint the root cause of critical business issues, set good policies to drive progressive changes, and monitor business performance closely. The corporate board is also responsible and accountable for protecting the shareholders’ investment and improve the business value proposition. Besides physical capitals, here are three critical "soft" corporate capitals that the board of directors needs to oversee in order to improve business governance effectiveness and lead the company forward successfully.

The “Digitizing Boardroom - The Multidimensional Aspects of Digital Ready Boards ” Book Chapter 8 A Culture Savvy Board Introduction Organizations large or small are on the journey of digital transformation, strategy making is important, strategy implementation is challenging, and one of the most critical business success factors is organizational culture, which is invisible, but powerful to fail a good strategy. In order to drive a successful digital transformation, how can BoDs set the digital tones in building “Digital-Ready” cultures, and how can they fine-tune policies for building high-innovative and high engaging digital workforce, and encouraging digital professionals to bring wisdom to the workplace?

The Corporate Board as “Digital Overseer” The board as senior leadership team needs to steer their organization toward the uncharted water or blurred territories with unprecedented uncertainty and complexity. To lead effectively, they have to look into an unknown future and attempt to define the landscape with its risks and opportunities and provide guidance about what core to preserve and what future to stimulate the business progress toward. Here are three aspects of the corporate board as “digital Overseer.”

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