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.
Inquisitivebods Due to the complexity, uncertainty, ambiguity and volatility of the digital age, the directorship in any organization must have the ability to guide, inspire, and lead effectively. Validate, organize and control the proper strategy management by the executive power. Asking the right questions helps to engage stakeholders, validate how thoroughly the board is thinking about strategic issues, harness leadership effectiveness and enhance GRC discipline.
Innovation inquiries of BoDs The board with digital savvy BoDs understand what’s required and how as a high-level basis of going digital means to the business. So, they can make a significant impact on accelerating digital transformation with a premium speed. Vision is the destiny, it is basically a qualitative statement defining the “perception” of the organization, the strategy is the roadmap to get there. And innovation strategy is an integral component of the strategy. The effective board as a directorial role oversees the business strategy and provides the guidance about what core to preserve and what future to stimulate progress toward. Here are a few innovation inquiries of digital boards.
Initiate Board’s Composition Inquiriesv Digital transformation is in every forward-thinking company’s top agenda; innovation is the light every organization is pursuing, and digitization becomes the new normal of business expansion. All of these bring significant opportunities and responsibilities for the new breed of digital BoDs. Because the board in a high-level directorship position plays a crucial role in strategy oversight, business advising & monitoring, as well as setting key digital tones in leadership development and talent management. Here are a set of the digital board’s composition inquiries.
Initiate Board Composition/Refreshment Inquiries Contemporary boards play the crucial directorial role in business strategy oversight, performance monitoring, business advising and policy setting. They are also the mastermind behind the digital transformation. Not only do today’s BoDs need to have sufficient knowledge to understand the digital business ecosystem, but also they need to have the collective insight to present today and foresee the future. The matter of fact is that the changes sweeping the business are hugely disruptive and there is nowhere to hide. Leadership is all about change and directorship is about steering the business toward the right direction. From a board composition and refreshment perspective, which challenges do you face, when and how do you tackle the issue of change in the boardroom? And how to build high-performance boards for today and the future?
“Leadership Master” Book Introduction Chapter IV: Inquisitive Leadership The business and world become over-complex and hyper-dynamic, how can leaders become more comfortable and confident in asking questions rather than giving answers. As in many instances, there is a perception that leaders should be the most experienced people and thus, have all of the answers. That’s a fallacy. Confidence comes from being comfortable in your role as a leader, value collective wisdom, not only provide answers but facilitate solutions. Should inquisitive leadership become a trend in the Digital Era.
The “Future of CIO” Blog has reached 7 million page views with 9600+ 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.