Saturday, August 3, 2019

The Monthly “Digitzing Boardroom” Book Tuning: The Corporate Board’s Multidimensional Views Aug. 2019

The corporate board must exemplify progressive leadership to help build an ultra-modern digital organization. 

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 Corporate Board’s Multidimensional Views 

The Progressive View of the Corporate Board The modern society is a dynamic continuum with collective human progress. Progress represents change. Without change, one cannot even stagnate. The corporate board must exemplify progressive leadership to help build an ultra-modern digital organization. The progressive view of the corporate board in a collective setting can sustain a balance of diversified perspectives, creativity, discipline; opportunities and risk; individualism and teamwork, democracy and unification; science and art, intuition and of course, forward-thinking and situational leadership.

The Corporate Board’s Synthetic View Digital is about changes, closer to reality is that 'change' is continuously happening in such a dynamic environment of a company. Businesses need to recognize the change and help leaders meet the challenge via business savvy and agility. Improvisation, fact-finding, analysis and synthesis, trial and error, all are necessary ingredients of leadership. In particular, senior leaders at the board level should shape the synthetic view in order to understand things holistically, drive change radically and lead the business transformation deeply.

The Corporate Board’s Unbiased View The digital dynamic creates many blind spots and generates quite a lot of gaps due to its “VUCA” characteristics - velocity, uncertainty, complexity, and ambiguity. Thus, the directorship in forward-thinking organizations must have capabilities to advise and motivate, set the right leadership tone, and develop digital “mindsets.” To steer change confidently, Yin and Yang's balance needs to be considered in the boardroom in regards to shape the unbiased view for making strategic decisions and improving leadership maturity.

The Corporate Board’s Outside-in Views
A digital paradigm is an emerging business ecosystem of principles, policies, and practices that set boundaries to frame the smooth business transformation with the focus. The board provides an “outside-in” view to the business management by overseeing the strategy and monitoring performance management. It should also offer guidance for creative problem-solving and steering the business in the right direction by practicing digital philosophy and principles.

The Corporate Board’s Diagnostic View of Digital Transformation
Running a digital business is a change-innovation-problem-solving continuum. Going digital is all about the rapid changes with blurred functional, business, or industrial territories, and expanded organizational horizons. Stability is not equal to stagnation. The corporate board plays a significant role in the oversight of strategy management and digital transformation. Having the diagnostic view at the board level helps the management understand where and how you can and should improve to get the biggest effect and scale up the transformation effort across the digital ecosystem effortlessly.

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