Governance is about doing the right things, and cannot be completely automated, it is a fundamentally human activity.
The corporate board directors as the digital overseers today need to understand things and circumstances in a holistic way, deal with opposing views, cultures, constraints, and competitions, in order to steer the business in the right direction, help the business achieve high performance with consistency.
Business model oversight: Contemporary businesses are dynamic and informative, the business context reflects both complexity and chaos, each of these contexts requires intelligence into effective business innovation. They need to reinvent business models and create new revenue streams in face of fierce competition. rapid changes. At a conceptual level, a business model includes all aspects of a company’s approach to develop a profitable offering and deliver it to its target customers.
There are different approaches and various tools could be taken to innovate business models. Insightful BoDs can ask open-ended questions to business management, methodologically review a list of levers for business model innovation, clarify the business competencies, strategic concerns, to ensure the business model innovation can bridge the “to be” state of business with the business realities of today.
Business value chain oversight: The purpose of running a business is to create customers and generate value to its shareholders. The value of the organizations goes beyond economic value, to include other forms of value such as employee value, customer value, supplier value, alliance partner value, managerial value, brand value, educational and societal value, etc. BoDs can leverage the lens of business capability and its ecosystem perspective, to understand multidimensional organizational value, the value chain of business, and the value chain of the business ecosystem in which it permeates deeply and competes fiercely .
With a clear business value stream view, all parties can agree on the common value propositions. Corporate board’s value chain oversight helps the management to break down silos, enhance holistic management disciplines, lubricate multifaceted business relationships, and improve organizational effectiveness.
Crisis management oversight: The corporate boards oversee risk management effectiveness, an effective crisis management plan is an essential part of a company’s overall approach to risk management and business continuity. At crisis points, this is when change becomes inevitable. The right attitude is to be responsive to the situation and deal with it proactively. Along with reputation oversight, crisis oversight as a component of overall risk management oversight, has become an increasingly important issue for corporate boards.
The corporate board must be comfortable that management is identifying and appropriately responding to risk, and that the board itself is apprised of the most significant risks facing the company. Corporate boards need to keep shaping their leadership competency and improving governance effectiveness. With the corporate board’s oversight of effective GRC discipline, the crisis can be overcome by working harder and smarter.
Governance is about doing the right things, and cannot be completely automated, it is a fundamentally human activity. Sound governance is part of eliminating risk and improving business effectiveness. To oversee a variety of business success factors and key leverages, the top seasoned board of directors with decades of experience should clarify the vision and share invaluable lessons in the past from time to time insightfully. In a high mature organization, governance must be viewed and assessed at the enterprise level, developing innovative governance practices for accelerating business performance continually.
Business model oversight: Contemporary businesses are dynamic and informative, the business context reflects both complexity and chaos, each of these contexts requires intelligence into effective business innovation. They need to reinvent business models and create new revenue streams in face of fierce competition. rapid changes. At a conceptual level, a business model includes all aspects of a company’s approach to develop a profitable offering and deliver it to its target customers.
There are different approaches and various tools could be taken to innovate business models. Insightful BoDs can ask open-ended questions to business management, methodologically review a list of levers for business model innovation, clarify the business competencies, strategic concerns, to ensure the business model innovation can bridge the “to be” state of business with the business realities of today.
Business value chain oversight: The purpose of running a business is to create customers and generate value to its shareholders. The value of the organizations goes beyond economic value, to include other forms of value such as employee value, customer value, supplier value, alliance partner value, managerial value, brand value, educational and societal value, etc. BoDs can leverage the lens of business capability and its ecosystem perspective, to understand multidimensional organizational value, the value chain of business, and the value chain of the business ecosystem in which it permeates deeply and competes fiercely .
With a clear business value stream view, all parties can agree on the common value propositions. Corporate board’s value chain oversight helps the management to break down silos, enhance holistic management disciplines, lubricate multifaceted business relationships, and improve organizational effectiveness.
The corporate board must be comfortable that management is identifying and appropriately responding to risk, and that the board itself is apprised of the most significant risks facing the company. Corporate boards need to keep shaping their leadership competency and improving governance effectiveness. With the corporate board’s oversight of effective GRC discipline, the crisis can be overcome by working harder and smarter.
Governance is about doing the right things, and cannot be completely automated, it is a fundamentally human activity. Sound governance is part of eliminating risk and improving business effectiveness. To oversee a variety of business success factors and key leverages, the top seasoned board of directors with decades of experience should clarify the vision and share invaluable lessons in the past from time to time insightfully. In a high mature organization, governance must be viewed and assessed at the enterprise level, developing innovative governance practices for accelerating business performance continually.
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