Problem-solving is a mindset with curiosity, self-inclusiveness, creativity, and progression, which directly impacts the intellectual sophistication of problem-solving capability.
The board’s insightful view to identifying the problem: Boards oversee business strategy and fundamentally, the strategy is about diagnosing business problems, making choices, and taking actions to achieve well-defined goals. Thus, board directors should have sharp eyes to identify problems and unique insight to pinpoint the root causes. Because problem-solving is about seeing a problem and actually finding a solution to that problem, not just the band-aid approach to fixing the symptom. The Board of Directors as “Problem-Definer” should understand what is exactly wrong, out of balance, stagnation, etc., the exact description of the problem, and how to frame the right problem and solve it smoothly. Otherwise, fixing the wrong cause of a problem is creating more gaps and lead to even more serious problems later on. Asking good and pertinent questions are critical for governing changes so the directors would have to be able to quickly assess top critical business issues and make sound decisions consistently. To be a good problem-definer, BoDs need to gain deep insight into how things work just by analyzing the aggregates, not necessary to dive into the trivial details. Board Directors need to understand the difference between being a director and the operator of the business. To avoid micromanagement, boards are more as problem-definer than the direct problem-solving because they often delegate the well-defined problems to management for solving them on time or implementing solutions to tailor varying circumstances effectively.
Identify qualified problem solvers:Identify the problem - what is exactly wrong, out of balance, unjust, etc., the exact description of the problem. When the problem is well-defined, it is also important to spot the right person (people) with the right mindset and skills to solve it. One of the most important management disciplines today is to put the right people with the right capabilities in the right position to solve the right problem timely. Corporate boards can set the right tones for innovating talent management and improve the overall problem-solving competency of the business. High IQ and EQ are both important for effective problem-solving. Problem-solving is a mindset with curiosity, self-inclusiveness, creativity, and progression, which directly impacts the intellectual sophistication of problem-solving capability. There is as much creative thinking, critical thinking, strategic thinking and system thinking that go into problem identification as well as solution discovery. People who can solve problems in a new way are innovators. Emotional intelligence is also critical for problem-solving because it is the ability to harness positive emotions and apply them to tasks like thinking and problems solving, dispassionately analyze the situation objectively in order to make the sound judgment. From the boardroom to coffee room, be cautious of those "problem-creating" mindsets, such as silo thinking, polar thinking (we are right, they are wrong); non-critical thinking (reflexive, not reflective), stereotypical thinking (based on outdated perception), small thinking (locally right, globally wrong) or static thinking (we always do things this way), have a difficult time to solve tough problems, and continue to argue “it’s impossible.” Therefore, identify qualified problem-solvers are imperative because misfit minds and skills will cause more problems and decelerate the speed of business changes.
Evaluate outcomes: The evaluation of problem-solving is to ensure the real problems have been fixed and cause the least side effects as possible. It is important to keep track of the outcome of strategic problem-solving at the board level by asking the management tough questions: Has the problem been fixed permanently? Does the solution cause any side effects, or cause more serious issues later on? Who are the real problem-solvers? Work with management to find the factors involved in the final "incorrect" outcome. See if they can measure or weigh each factor's contribution to the result, or the description of the unit of measure. Build a hypothetical equation that describes "incorrect" outcomes. Taking a systematic approach to measurement can avoid blind-spots in problem-solving management. The organization that didn't have a systematic approach to measurement and analysis at both the strategic level and operational level has a giant blind spot that is impairing their performance or problem-solving effectiveness. Having the appropriate performance indicators is very important. But acting on what those indicators are telling you is vital to sustaining and improving problem-solving capability at the business level.
A digital-ready board has the advantage of pulling enough resources and pushing the business model of technology, trustworthiness, working closely with the management by integrating multidisciplinary methodology to approach problems via multi-faceted way technically, scientifically and culturally.
Identify qualified problem solvers:Identify the problem - what is exactly wrong, out of balance, unjust, etc., the exact description of the problem. When the problem is well-defined, it is also important to spot the right person (people) with the right mindset and skills to solve it. One of the most important management disciplines today is to put the right people with the right capabilities in the right position to solve the right problem timely. Corporate boards can set the right tones for innovating talent management and improve the overall problem-solving competency of the business. High IQ and EQ are both important for effective problem-solving. Problem-solving is a mindset with curiosity, self-inclusiveness, creativity, and progression, which directly impacts the intellectual sophistication of problem-solving capability. There is as much creative thinking, critical thinking, strategic thinking and system thinking that go into problem identification as well as solution discovery. People who can solve problems in a new way are innovators. Emotional intelligence is also critical for problem-solving because it is the ability to harness positive emotions and apply them to tasks like thinking and problems solving, dispassionately analyze the situation objectively in order to make the sound judgment. From the boardroom to coffee room, be cautious of those "problem-creating" mindsets, such as silo thinking, polar thinking (we are right, they are wrong); non-critical thinking (reflexive, not reflective), stereotypical thinking (based on outdated perception), small thinking (locally right, globally wrong) or static thinking (we always do things this way), have a difficult time to solve tough problems, and continue to argue “it’s impossible.” Therefore, identify qualified problem-solvers are imperative because misfit minds and skills will cause more problems and decelerate the speed of business changes.
A digital-ready board has the advantage of pulling enough resources and pushing the business model of technology, trustworthiness, working closely with the management by integrating multidisciplinary methodology to approach problems via multi-faceted way technically, scientifically and culturally.
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