The corporate board plays a significant role in taking ultimate accountability to shareholders and the account for the performance and conformance of the 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.
Accountable Corporate Board
The “Acid Test” in Corporate Boardroom The increasing speed of change and ever-evolving digital dynamic brought much-needed oversight and additional rigor to the leadership effectiveness in the boardroom at many forward-looking companies across the industrial sectors. The corporate board as one of the top leadership pillars plays a significant role in steering the business in the right direction. Digital leadership is the adventure to explore unknown, and have confidence and insight for taking the right path of reaching the destination. Here is a set of “acid tests” to assess the corporate board leadership maturity.
An Accountability Mind Accountability is “the obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner.” (business dictionary.com). Self-accountability and collective accountability are that we each are creating knowingly or unknowingly the world, environment, culture that we find ourselves in, and we take responsibility and we grow with it.
The Characteristics of Digital-Ready Board The digital journey for organizations today is inevitable and unstoppable, it is important to understand that digital transformation is multifaceted, business optimization and integration need to be done with a “big picture.”Digital savvy Board of Directors as the advising role is responsible to steer the organization in the right direction, understand what's required and how as a high-level basis of going digital means to the business. A digital-ready board with the following characteristics has the advantage of pulling enough resources and pushing the business forward confidently.
How to Build a Culture of Accountability Accountability is “the obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner.” (business dictionary.com). To step further, accountability is not only to accept the responsibility for what you DO - the actions or behaviors, but also what you SAY - the knowledge sharing or feedback giving, in order to build a culture of accountability.
The “Future of CIO” Blog has reached 3 million page views with 6900+ blog posting in 59+ different categories of leadership, management, strategy, digitalization, change/talent, etc. The content richness is not for its own sake, but to convey the vision and share the wisdom. Blogging is not about writing, but about thinking; it’s not just about WHAT to say, but about WHY to say, and HOW to say it. It reflects the color and shade of your thought patterns, and it indicates the peaks and curves of your thinking waves. Unlike pure entertainment, quality and professional content takes time for digesting, contemplation, and engaging, and therefore, it takes time to attract the "hungry minds" and the "deep souls." It’s the journey to amplify your voice, deepen your digital footprints, and match your way for human progression.
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