To navigate the corporate ship in today's business dynamic, risk avoidance is not sufficient, the corporate board needs to be risk aware and risk intelligent. Many say that companies don’t fail, boards do.
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.
Inspiring Risk Intelligent Board The corporate board is one of the most important governance bodies. Governance, per se, as a concept goes back 2500 years, deriving from Greek naval terminology, kubernesis or kuberneo, and referred to the act of piloting a ship - both providing direction to accomplish the ship’s purpose and its protection (risk avoidance) in that process. To navigate the corporate ship in today's business dynamic, risk avoidance is not sufficient, the corporate board needs to be risk aware and risk intelligent. Many say that companies don’t fail, boards do.
Intercoonnectionofboardroom Nowadays, opportunities and risks co-exist, risk management is the discipline of managing risks and opportunities; risk intelligent organizations allocate sufficient time to identify opportunities whilst they are managing their risks. Strategic risk management actually creates value by identifying opportunities to capitalize on uncertainty and volatility to maximize gains and improve competitive positioning.
Inner“Risk Appetite” of the Corporate Board We live in an era of information abundance but insight scarcity, full of uncertainty, velocity, complexity, and ambiguity. The result is a higher risk of conflict and inertia. For the majority of organizations, the accountability for the 'oversight' of risk is ultimately on each individual. Senior board leaders should set the tone and have the right dose of risk appetite for improving risk management effectiveness and overall governance maturity. That means looking into an unknown future and attempting to define the landscape with its risks and opportunities, to steer the business ship in the right direction.
Inquisitive Board: How to Ask the Tough Questions Generally speaking, Boards have a couple of main functions such as strategy oversight, governance practices, providing advice to executives, and resource provision, etc. So the Board should be knowledgeable enough to set broad strategic goals. They need to educate themselves by hearing different views about the organization, its environment, and strategic alternatives. Even the majority of BoDs are senior executives, they need to break the “status quo,” present learning agility and show the inquisitiveness to ask the tough and right questions. The board represents the ownership and they really cannot do a good job if they don't have the courage and knowledge to question and challenge and set the broad strategic goals, culture tones, and the digital theme of the boardroom itself. As an inquisitive BoD: How do you ask the tough questions?
Improve Boards with “Cool-Headed” Directors Due to the complexity, uncertainty, ambiguity, and volatility of the digital era, the BoDs as the senior leadership of the organization or the society are like the steering wheel to ensure their ships are moving in the right direction towards the uncharted water. The directorship in any organization must be able to make influence from mindset to behavior and evolving to what is needed next for radical changes such as digitalization and societal advancements. High-mature digital boards with “cool-headed” directors are the driving force for changes and exemplary of contemporary leadership.
The “Future of CIO” Blog has reached 7 million page views with 9100+ blog postings 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.
Boardroom Risk Intelligence
Inspiring Risk Intelligent Board The corporate board is one of the most important governance bodies. Governance, per se, as a concept goes back 2500 years, deriving from Greek naval terminology, kubernesis or kuberneo, and referred to the act of piloting a ship - both providing direction to accomplish the ship’s purpose and its protection (risk avoidance) in that process. To navigate the corporate ship in today's business dynamic, risk avoidance is not sufficient, the corporate board needs to be risk aware and risk intelligent. Many say that companies don’t fail, boards do.
Intercoonnectionofboardroom Nowadays, opportunities and risks co-exist, risk management is the discipline of managing risks and opportunities; risk intelligent organizations allocate sufficient time to identify opportunities whilst they are managing their risks. Strategic risk management actually creates value by identifying opportunities to capitalize on uncertainty and volatility to maximize gains and improve competitive positioning.
Inner“Risk Appetite” of the Corporate Board We live in an era of information abundance but insight scarcity, full of uncertainty, velocity, complexity, and ambiguity. The result is a higher risk of conflict and inertia. For the majority of organizations, the accountability for the 'oversight' of risk is ultimately on each individual. Senior board leaders should set the tone and have the right dose of risk appetite for improving risk management effectiveness and overall governance maturity. That means looking into an unknown future and attempting to define the landscape with its risks and opportunities, to steer the business ship in the right direction.
Inquisitive Board: How to Ask the Tough Questions Generally speaking, Boards have a couple of main functions such as strategy oversight, governance practices, providing advice to executives, and resource provision, etc. So the Board should be knowledgeable enough to set broad strategic goals. They need to educate themselves by hearing different views about the organization, its environment, and strategic alternatives. Even the majority of BoDs are senior executives, they need to break the “status quo,” present learning agility and show the inquisitiveness to ask the tough and right questions. The board represents the ownership and they really cannot do a good job if they don't have the courage and knowledge to question and challenge and set the broad strategic goals, culture tones, and the digital theme of the boardroom itself. As an inquisitive BoD: How do you ask the tough questions?
Improve Boards with “Cool-Headed” Directors Due to the complexity, uncertainty, ambiguity, and volatility of the digital era, the BoDs as the senior leadership of the organization or the society are like the steering wheel to ensure their ships are moving in the right direction towards the uncharted water. The directorship in any organization must be able to make influence from mindset to behavior and evolving to what is needed next for radical changes such as digitalization and societal advancements. High-mature digital boards with “cool-headed” directors are the driving force for changes and exemplary of contemporary leadership.
The “Future of CIO” Blog has reached 7 million page views with 9100+ blog postings 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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