Wednesday, October 14, 2020

The Monthly “Digitizing Boardroom” Book Tuning: Journey of Digital Transformation in the Boardroom Oct. 2020

BoDs need to be insightful, influential, strategic, and highly effective, and the board as a whole needs to be able to create the cohesive vision, holistic view, and transform from compliance-centric to performance-driven. 

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.

   Journey of Digital Transformation in the Boardroom


The Corporate Board as the Mastermind of the Digital Transformation Digital boards are like the steering wheel of their company, leading the business toward the uncharted water and blurred territories for reaching the ultimate digital destination. Digital boards as the strategic advising role are also the “mastermind” behind digital transformation to oversee strategies, drive innovation, catalyze changes, and monitor performance.

The Digital Board’s Digital Playbook The advanced board is the mastermind behind digital transformation because it plays a crucial role in setting tones for the digital paradigm shift, making good policies for the management to follow, and creating digital principles for inspiring learning and creativity. Digital boards co-develop the digital vision and oversee the business strategy, and recommend comprehensive digital playbooks to guide the business through the journey of digital transformation.

The “Good to Great” Journey of the Corporate Board Most organizations today are looking for the strategic direction of driving transformative changes. The open digital paradigm is not just about opening technology, becoming transparent. It's a new paradigm shift. The directorship in any organization must be able to make influence from mindset to behavior and evolve to what is needed next for radical changes. Being transformational or being strategic goes beyond skills only, it's a "good to great" journey of the corporate board to realize a clear vision, enforce empathetic communication, amplify leadership influence, and make continuous improvement.

The BoD's Three Oversights of Digital Transformation The beauty of the digital landscape is a fresh insight into the business. The digital paradigm is an emerging ecosystem of principles, policies, and practices that set limits or boundaries, also offer the guidance for problem-solving or creating something new under the digital rules, keep information flow and achieve a state of dynamic balance. An effective board enables and directs management towards good outcomes, and ensures the business is on the right track to reach well-defined business goals. What are important oversights the board can offer about digital transformation, and what are the possible governance methods, techniques, structures, etc, that help to improve the boardroom effectiveness?

"Digitizing Boardroom" Book Tuning: The Digital Board’s Journey from Good to Great Due to the complexity, uncertainty, ambiguity, and volatility of the digital age, the directorship in any organization must have the ability to inspire, guide, and motivate top management team toward accomplishing shared visions and goal. The level of the board accomplishment may vary but the essential competencies will remain the same, BoDs need to be insightful, influential, strategic, and highly effective, and the board as a whole needs to be able to create the cohesive vision, holistic view, and transform from compliance-centric to performance-driven. This also implies that Boards of the future will need to work much more closely and collaboratively to take the digital journey from good to great.

The “Future of CIO” Blog has reached 3 million page views with 7200+ 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.


Post a Comment