The boardroom has to keep up with the technological revolution. C-Suite executives with commercial savvy and a specialization in the field will be required to differentiate between trends that are not sustainable and tools that are indispensable. They can make the most of modern technologies and make sure they are integrated into the company strategy. They can also provide the information needed to determine if an innovative tool is worth the effort or not, and also the training required for all employees.
The boardroom of the future will have to be flexible and fluid in order to build resilience to the company’s strategy, operations and culture. This requires being curious enough to uncover challenges in the future, as well as downstream impacts, evaluating alternatives that were not considered and identifying new opportunities.
Boards will have http://www.boardroomchallenge.com/10-tips-for-better-board-agendas-and-board-minutes/ to adopt flexible meeting formats. This will include remote meetings with videoconferencing and collaborative platforms, which will allow an increased level of participation from directors across the globe who aren’t able to travel to their destinations easily. It is also essential for boards to adopt sustainable practices. Investors are increasingly focused on the sustainability performance and climate issues of businesses. It is crucial that the current and future board members are educated.
The boardroom of the future will promote the culture of continuous learning and development amongst all members. This will involve a greater importance on education for the board with guest speakers as well as interactive sessions that keep the board informed of industry trends and best practice. M1 Business Hub’s professional growth programs will aid in this by providing workshops and resources facilitated by experts to keep the board at the forefront of business practices.