Innovateleadershipofbod ~ Future of CIO

Monday, December 5, 2022

Innovateleadershipofbod

11:49 AM Pearl Zhu No comments

Corporate governance is about how well an organization is being run, whether it is in the right direction, as well as its overall problem-solving competency.

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 with digital acumen.

Innovate BoD Leadership

Initiatebods realtime innovationThe power of information is to empower the business with real-time insight across the organization in ways never possible before. This is more imperative when uncertainty, velocity, complexity, and ambiguity are major hindrances to decision-making. Real-time organizations mean high-responsiveness with speed, developing more participative models that better support the quantum leap in speed we are experiencing.

InitiativesofBoDs The business environment becomes so volatile and uncertain, governance is to establish a consensus of what is normal for your organization; manage exceptions as they arise; update your consensus of normal as the organization changes. There’s a correlation between corporate governance and business performance, and there's a clear connection between bad governance and poor performance. Corporate boards play a significant role in governance enhancement and performance monitoring. Organizations need to evaluate its corporate board effectiveness, continue to check whether their governance model is out of date, and how to develop the best and next practices for improving governance maturity.

Initiatives of bods In today’s “VUCA” digital new normal, organizations across the vertical sectors are at the state of dynamism, continuum, with the goal to reach holism. Corporate leaders must gain an in-depth understanding of the very characteristics of the digital era, to be comfortable with “VUCA” new normal. In business practices, it is not an easy task to direct the large enterprise to the uncharted water and blurred business territories, corporate boards need to become more information savvy, strategic and agile, and set the tones to make the digital paradigm shift seamlessly. The new breed of BoDs has the advantage of bringing up fresh viewpoints, reframing existing or emerging problems, and rejuvenating leadership styles to lead forward harmoniously.

Innovative global bod The global working environment is diverse, dynamic, energetic, and innovative; it is a strategic imperative for today’s business leaders and professionals to broaden the view of global society, keep learning agile, and become more fluent in understanding the global context of problem-solving.

Innovativeoverseer The hyperconnectivity nature of digital breaks down the functional, geographical, industrial territories, businesses today become much more interconnected and interdependent than ever.To survive the fierce competition and thrive with the long-term business advantage, holistic oversight is crucial to identify crucial problems, strengthen the weakest link in business management, laser focus on the most critical perspectives in order to steer the business in the right direction, and ensure business success in the long run.