In a time of unprecedented insecurity, resilient boards are adapting to an ever-changing landscape. They redefine their responsibility lines that include sustainability and a purpose which www.boardroomchallenge.com/10-tips-for-better-board-agendas-and-board-minutes go beyond the role of shareholders. They also embrace diverse perspectives and a variety of voices to determine the future success.
The technology in the boardroom continues changing the way boards function. Secure platforms allow for real-time collaboration and communication between board members who are geographically dispersed and data analytics can provide deeper insights that help make better decisions. Artificial intelligence is able to assist with tasks such as agenda planning and risk assessment which allows board members to focus their time on strategy.
Another boardroom trend is incorporating natural lighting into meeting spaces as a way of encouraging healthy and more productive conversations. In fact the most recent Harvard Business Review study ranked the natural light source as the number one office perk, edging out less regular options such as cafeterias in the office and fitness centers.
As cyberthreats become a more pressing issue for businesses, it’s essential that board members stay up-to date on their understanding of the company’s threats and vulnerabilities to effectively manage cybersecurity. This may mean setting up designated committees, selecting the director who is the lead or investing in training specifically designed for board members.
Directors of boards must adopt a continuous learning mindset as the speed of change increases. This will allow them to remain interested in the latest issues and examine previously unconsidered options, allowing them to guide management towards innovative strategies that differentiate the company in its field.