Tuesday, July 9, 2019

The Monthly “Digitizing Boardroom” Book Tuning: The Corporate Board’s Best and Next Practices II July 2019

 Digital board directors need to be the multidimensional thinkers, multi-dialect experts, and multifaceted strategists for facilitating digital dialogues and enforcing leadership maturity.

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 is a set of the best and next practices to digitize the boardroom.

           The Corporate Board’s Best and Next Practices II

The Dynamic Facilitation Practices in the Boardroom
The board of directors is the senior leadership role, leadership is the adventure to explore unknown, have confidence and insight for enforcing communication and driving progressive business changes, Digital board directors need to be the multidimensional thinkers, multi-dialect experts, and multifaceted strategists for facilitating digital dialogues and developing the best and next practices to steer the business at the right path to reach the destination smoothly.

The “Deep Listening” Practices in the Boardroom
Business evaluation, strategic oversight, and policy setting are always at the top list of the corporate board’s agenda. One of the biggest challenges in this complex, multi-polar world is the fact that we need different perspectives, the multitude of insights, dynamic knowledge, and alternative ways to solve emergent or old thorny problems. The digital-savvy board has to develop “deep listening” skill, gain digital awareness, shape multidimensional thinking, leverage five senses, and exercise the supervisory power effectively.

Three Digital Balance Practices for Leading to the Future The digital era upon us means fast-paced changes, continuous disruptions, overwhelming information, and shortened knowledge life cycle. Organizations of the future are increasingly exhibiting digital characteristics in various shades, extensiveness, and intensity. Leading evolutionary changes and driving business growth is the never-ended journey which takes planning, methodologies, and practices. It’s important to understand that digital management is multifaceted and holistic. Balance, growth, and harmony are not fixed, they are flowing. Here are three digital balance practices for leading to the future.

Gap Minding Leadership Practices in Digital Boardroom
Digitalization makes the business flatter and the world smaller because of its nature of hyper-connectivity and interdependence. Competition at the leading edge of business is also becoming fiercer at the age of digitalization and globalization. Thus, successful companies need to grow and innovation is no longer "nice to have," but must have business competency. The corporate board plays a critical role in setting policies for innovation and exemplifying leadership influence. Thus, foresightful BoDs should always look for the complementary mindsets, diverse experiences, and differentiated skillsets so that collectively, they can avoid groupthink, make sound judgments, provide innovative advice and mind leadership gaps to ensure the boardroom digital ready.

What’re the Next Practices of Board Succession Plan Generally speaking, Boards have a couple of main functions such as strategy oversight, governance practices, providing advice to executives, and resource provision, etc. The spirit comes from the top, the board also plays a significant role in setting culture tones and encouraging innovation. At today's business dynamic with digitalization and globalization trend, what’s the elephant in the Board Room, and how to bring the new blood to digitize the Board? What're the logical steps, the next and best practices of Board succession plan?

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"Digitizing Boardroom" Book Introduction, Slideshare Presentation


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