Contemporary corporate boards nowadays have many responsibilities, but also face various distractions.
With rapid change and exponential growth of information, how successfully organizations can handle continuous digital disruptions depends on how fast and capable they can adapt to the ever-changing environment. The senior leadership of the organization such as BoDs, like the steering wheel, needs to navigate companies through uncharted water, to ensure their ships are moving in the right direction.
Growth mindset shaping: The digital era upon us is multifaceted, non-linear, unrepeatable, and unpredictable, with exogenous drivers which couldn't be controlled completely. Leadership in itself is a constant learning process that requires the leader to build experience and to share insight. Thus, it’s critical for senior leaders such as board directors, to make a shift from a fixed mindset to a growth mindset, gain and share insight from the sea of information and the abundance of knowledge.
The difference between knowledge and insight is thinking, and especially lateral, nonlinear or multi-dimensional thinking, a holistic view. It's critical to examine the current board make-up, identify who (mindset, expertise, creativity) is currently sitting at the board table, how to develop the corporate board with a growth mindset and bootstrap their members to raise themselves to the level of knowledge and sophistication required to fill the board oversight and fiduciary responsibilities.
Gap-minding: The corporate board’s role is supposed to be the guiding force in the enterprise, envisioning and leading it towards its future. Compared to other junior level management position, the BoDs needs to spend significant time on making strategic decisions. Hence, sound judgment skills are important to enhance leadership effectiveness and improve decision-making maturity. Foresightful BoDs should always look for the complementary mindsets, diverse experiences, and differentiated skill sets so that collectively, they can avoid groupthink, mind leadership gap, make sound judgments, and provide invaluable advice to senior management.
Today’s digital board simply just can’t stand still. Bridging the gap of opportunity between where you are and want to become is a welcomed challenge. More specifically, bridging leadership gap is about filling innovation gaps, change gaps, and talent gaps. Gap-minding leadership practices are important in the boardroom because if you are not taking steps now to shrink that leadership gaps, you will not be prepared to lead digital transformation seamlessly. The corporate boards can make significant contributions to set the digital leadership tone for advancing and inclusiveness.
Governance enforcement: Governance is all about conforming to regulation and performing well to achieve business goals. Governance is fundamentally about having a systematic approach to making decisions within the corporate entity and taking an oversight of assessment.
The corporate boards play crucial roles in practicing governance disciplines. Good governance must create good performance, especially for the business growth in the long run.
In practice, governance is a “framework” for policies and processes and it enables the board to govern and report to shareholders and stakeholders. More specifically, the governance disciplines in the board level include, but not limited to gauging conditions and choices; taking an oversight of appropriation and accountability, matching priorities, and balancing resources -scoring activity and net results. Governance is a sophisticated process that if well executed, will lead to better decisions and performance. It will allow not only to protect the existing value but also to create new value for its shareholders.
The digital ecosystem is just like the natural ecosystem which keeps the dynamic balance of order and chaos, patterns and diversity. Contemporary corporate boards nowadays have many responsibilities, but also face various distractions. They need to shape growth mindset, have multi-intelligent wisdom, understand things and circumstance in a holistic way, bridge varying leadership gaps in order to steer the business in the right direction.
The difference between knowledge and insight is thinking, and especially lateral, nonlinear or multi-dimensional thinking, a holistic view. It's critical to examine the current board make-up, identify who (mindset, expertise, creativity) is currently sitting at the board table, how to develop the corporate board with a growth mindset and bootstrap their members to raise themselves to the level of knowledge and sophistication required to fill the board oversight and fiduciary responsibilities.
Gap-minding: The corporate board’s role is supposed to be the guiding force in the enterprise, envisioning and leading it towards its future. Compared to other junior level management position, the BoDs needs to spend significant time on making strategic decisions. Hence, sound judgment skills are important to enhance leadership effectiveness and improve decision-making maturity. Foresightful BoDs should always look for the complementary mindsets, diverse experiences, and differentiated skill sets so that collectively, they can avoid groupthink, mind leadership gap, make sound judgments, and provide invaluable advice to senior management.
Today’s digital board simply just can’t stand still. Bridging the gap of opportunity between where you are and want to become is a welcomed challenge. More specifically, bridging leadership gap is about filling innovation gaps, change gaps, and talent gaps. Gap-minding leadership practices are important in the boardroom because if you are not taking steps now to shrink that leadership gaps, you will not be prepared to lead digital transformation seamlessly. The corporate boards can make significant contributions to set the digital leadership tone for advancing and inclusiveness.
The corporate boards play crucial roles in practicing governance disciplines. Good governance must create good performance, especially for the business growth in the long run.
In practice, governance is a “framework” for policies and processes and it enables the board to govern and report to shareholders and stakeholders. More specifically, the governance disciplines in the board level include, but not limited to gauging conditions and choices; taking an oversight of appropriation and accountability, matching priorities, and balancing resources -scoring activity and net results. Governance is a sophisticated process that if well executed, will lead to better decisions and performance. It will allow not only to protect the existing value but also to create new value for its shareholders.
The digital ecosystem is just like the natural ecosystem which keeps the dynamic balance of order and chaos, patterns and diversity. Contemporary corporate boards nowadays have many responsibilities, but also face various distractions. They need to shape growth mindset, have multi-intelligent wisdom, understand things and circumstance in a holistic way, bridge varying leadership gaps in order to steer the business in the right direction.
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