Corporate boards as one of the high-level governance bodies play a crucial role in business advising & monitoring, to run fitting organizations.
Fitting organizations are always on, volatile, fast, highly-connected and ultra-competitives, stretching out in every business dimension for driving the full-fledged digital transformation. The corporate board needs a well-rounded team of individuals who can complement each other’s mindset, expertise, and work collaboratively to shape a fitting organization.
The team or organizational fit manifested in accepted and expected behavior, has a way of neutralizing differences to create synergy: Organizational fit means more about value-adding or behavioral norm. There are many business factors that have an impact on digital fitness such as organizational structure, process, people, culture, technology, competition, market segmentation, rules, responsibility, etc. Sometimes, organizational fit from conventional lenses makes relationships easy and perpetuates the status quo, so if companies are satisfied with where they are and going then they should pay attention to fit. Thus, from GRC perspective, the fitting corporate board needs to have both ‘fresh eyes’ and ‘inquisitive mind' to scrutinize the fitness of the business.
The business fitting oversight from the corporate board provides the guidance for the business management to keep tuning organizational competencies. From a talent management perspective, fitting teams are heterogeneous and competitive to close blindspots, bringing holistic perspectives. Everyone feels committed to the goals of the team, and they are comfortable with the behavioral expectations associated with those goals for achieving high performance results.
Organizations collect feedback, analyze context and convert them into actionable business insight inferentially: With frequent disruptions and constant changes, the real-time feedback from boardroom to front desk can provide insights that can genuinely help management teams drive improvement over time. There is a mechanism to collect feedback and there is transparency in the follow-up. Social activities and participation help leaders sharpen strategic insight and extend strategic execution. It’s an expansive cycle of continuous feedback, exploration, experience and a more natural process of improvement.
Feedback does not focus on the past; it tells you what is happening so that you can adapt. The information gained from feedback can help business management develop the next digital practices. Feedback helps to not only act but aid to feedforward for either managing change or accelerating performance. It needs to be continuous, as close to real time as possible, the feedback from BoDs helps business management improve their daily practices and enhance GRC discipline of the organization.
It’s important to establish ground rules for communication and meeting progress checks: The digital rules are not some out-of-date cliche or rigid processes to stifle innovation. Instead, they are based on the set of digital principles and philosophy behind the methodologies. overly restrictive policies will lead to micromanagement or too much control which leads to business bureaucracy, inefficiency and stifling innovation. Corporate boards set principle guidelines, to shape the positive culture, encourage innovation, harness cross boundary communication and collaboration.
Most board directors are top seasoned business leaders with decades of experiences or deep functional expertise, independent board directors are also the “outliers” who can provide fresh perspectives and share the unique insight. By following the digital principles and rules, the business lifecycle could be viewed as resulting in emergent means of reorganizing, refocusing, rebalancing resources, and redirecting people to understand the whole,
The effects of an increasingly digitized world are now reaching into every corner of businesses and every aspect of organizations. Corporate boards as one of the high-level governance bodies play a crucial role in business advising & monitoring, to run fitting organizations which understand and lead with emergent digital trends, and commit to transforming themselves into high-performance digital business.
The team or organizational fit manifested in accepted and expected behavior, has a way of neutralizing differences to create synergy: Organizational fit means more about value-adding or behavioral norm. There are many business factors that have an impact on digital fitness such as organizational structure, process, people, culture, technology, competition, market segmentation, rules, responsibility, etc. Sometimes, organizational fit from conventional lenses makes relationships easy and perpetuates the status quo, so if companies are satisfied with where they are and going then they should pay attention to fit. Thus, from GRC perspective, the fitting corporate board needs to have both ‘fresh eyes’ and ‘inquisitive mind' to scrutinize the fitness of the business.
The business fitting oversight from the corporate board provides the guidance for the business management to keep tuning organizational competencies. From a talent management perspective, fitting teams are heterogeneous and competitive to close blindspots, bringing holistic perspectives. Everyone feels committed to the goals of the team, and they are comfortable with the behavioral expectations associated with those goals for achieving high performance results.
Feedback does not focus on the past; it tells you what is happening so that you can adapt. The information gained from feedback can help business management develop the next digital practices. Feedback helps to not only act but aid to feedforward for either managing change or accelerating performance. It needs to be continuous, as close to real time as possible, the feedback from BoDs helps business management improve their daily practices and enhance GRC discipline of the organization.
Most board directors are top seasoned business leaders with decades of experiences or deep functional expertise, independent board directors are also the “outliers” who can provide fresh perspectives and share the unique insight. By following the digital principles and rules, the business lifecycle could be viewed as resulting in emergent means of reorganizing, refocusing, rebalancing resources, and redirecting people to understand the whole,
The effects of an increasingly digitized world are now reaching into every corner of businesses and every aspect of organizations. Corporate boards as one of the high-level governance bodies play a crucial role in business advising & monitoring, to run fitting organizations which understand and lead with emergent digital trends, and commit to transforming themselves into high-performance digital business.
0 comments:
Post a Comment