An innovative global corporate board should have cognitive differences, diversified worldviews, interdisciplinary knowledge to bridge gaps, make sound judgments, and improve world class leadership maturity.
Global societies become more hyper-connected and interdependent. Creating the paradigm change means how to shift from taking a polarized viewpoint to making interdisciplinary discernment; from the classic command and control management approach to coaching and personalization.
A global corporate board can set a clear choice among future scenarios that advocate global advancement: BoDs help to predict and co-develop a worldwide strategy and overcome the challenges and uncertainty on the way to the future. They have a clear choice among future scenarios that advocates future trends from an expanding global marketplace to the rapid pace of technology change that must be considered. By envisioning “To-Be” state and clarifying brand core, the corporate board and business management are able to work together to communicate a clear message down to the different levels of organization and ensure the entire business works in the same direction for seamless business transformation
An information savvy corporate board becomes more strategic and agile to fit the “VUCA” new normal. Understanding the importance of information technology to the company’s business model and growth is important for effective oversight of strategic business investment and global exploration. Corporate boards must continually evaluate the management team to determine if the right strategy and culture are thriving in the organization; and proactively drive the future growth of the business world-widely.
The role of the global corporate board is to help and encourage the senior management team to set an innovation climate: Every global corporate board needs individuals who can think outside the box and bring a pair of creative eyes to share fresh insight about global innovation. So, the board leadership team should create a corporate culture where innovation thrives; they can gain a huge advantage for their organization if they seek and utilize innovation in their organization to reach the growth trajectory and generate unique value for building long-term business advantage.
Corporate board needs to be open-minded, forerthoughtful knowledgeable, innovative and committed in order to contribute to strategy oversight when required and effectively at all times. So corporate boards are more effective with a mix of specialized generalists who can drill down in some areas and experts with the bandwidth and experience to connect wider dots for leading innovation cross-boundarily. The global Board of Directors is an influential brand enhancer that represents the variety of organizational stockholders, and senior management. The interdisciplinary Board of Directors as top leadership roles are able to set an inclusive culture tone, develop a creative workforce, shape world class talent management, and bring a new perspective on global innovation.
Insightful global board of directors need to co-develop a cohesive GRC system: Corporate GRC is not just for controlling, more about enabling, empowering, and optimizing: How to revitalize the regulation change, GRC enforcement into processes? How to optimize the process design with advanced analytics capabilities to implement intelligent processes? How to craft dynamic processes or social processes and enforce a global GRC system for improving organizational maturity? Etc. Strong GRC practices enable executives and management to perform risk analysis, harness connectivity, raise visibility and awareness for many things that are captured at the different levels of the organization to improve overall business manageability.
There needs to be a balanced approach for developing the global GRC system keeping in view of intrinsic organizational & national requirements while supporting global advancement. The organizational hierarchy must balance the welfare, freedom, and responsibilities to unify and orchestrate the organizational interrelationship between people and process, streamline information and idea flow, enforce business communications, enhance GRC of the organization.
Global boards will, for the most part, go through a learning process, relationship building and understanding of what it takes to get cross-cultural agreements. It starts with global business advancement agenda agreements before moving forward; it takes patience and understanding of potential obstacles, differences, and language that translates common meaning. An innovative global corporate board should have cognitive differences, diversified worldviews, interdisciplinary knowledge to bridge gaps, make sound judgments, and improve world class leadership maturity.