Wednesday, February 5, 2020

The Monthly “Digitizing Boardroom” Book Tuning: "Accelerator" Corporate Boardroom Feb. 2020

Corporate Board plays a significant role in overseeing organizational strategy, setting policies, practicing governance, and exemplifying leadership disciplines.

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.

"Accelerator" Corporate Boardroom

Cognitive Board The corporate board plays a significantly crucial role in exemplifying leadership qualities and practicing governance disciplines, but how to build a cognitive Board to strengthen independent thinking; enforcing the multitude of innovation, capturing profound insight and catalyzing rapid growth at the age of digitalization?

BoDs as “Thinkingaires”: Harnessing Digital Thinking to Build a “Mindful Board” Modern corporate boards play a significant role in strategy oversight and business advising and monitoring. Business understanding is a prerequisite for being a board member in the first place, and to add to that you need different members to have important cognitive difference/experience/ competence in many other areas. Most directors are seasoned executives with a variety of experiences. While mindset is critical to being an effective director is sometimes often overlooked. BoDs with cognitive differences can make better decisions and heterogeneous boards are more open-minded and set the right tone for the culture of innovation.

Objective Board The modern corporate board plays a critical role to exemplify digital leadership and influence corporate culture as well, how do boards ensure they remain objective even when members are/or become friends?

‘Mindful’ Board Corporate Boards are there to oversee business strategy, to ensure reasonable governance, and hold the senior executive team accountable for execution. Modern Board as high-level governance body plays the crucial role in business advising, monitoring, and setting key tones in corporate culture as well, these are all significant responsibilities, thus, mindset, more precisely, mind shift or mind flow is so critical to director selection criteria. But what are the characteristics of those mindful BoDs and a mindful board overall?

An Accelerator Digital Board Corporate Board plays a significant role in overseeing organizational strategy, setting policies, practicing governance and exemplifying leadership disciplines. The board also has to strike the right balance between acceleration and governance. The board with digital savvy BoDs understand what's required and how as a high-level basis of going digital mean to the business, so they can make a significant impact on accelerating digital transformation with premium speed. And it all starts at running an accelerator digital board with the following aspects.

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