Is your board ready to take advantage of disruption?
Disruption—a topic the entire business world is talking about. While many organizations fear it, others realize the many opportunities that disruptive technologies, processes, and social norms present. But with every opportunity comes an element of risk—not every disruption will positively impact your enterprise.
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Strategy: Do you know the importance of courage?
I typically find that executive teams and boards under-estimate the risk of the status quo, even in the face of disruption and uncertainty. In this context, boards have an important role in injecting courage into strategy – by asking provocative questions, by weighing possibilities, trade-offs and risk, and by encouraging choice.
Culture: The only sustainable competitive advantage
A misalignment between culture and strategy may not only reduce the organization’s ability to achieve its strategic objectives, but could derail the strategy altogether. The biggest challenge for boards is a result of being too dependent on internal information – not having a clear understanding of culture and the tone at the top can and will inhibit an organizations ability to respond quickly when problems arise.
Innovation: Have You Solidified a Disruptive Advantage?
One of the most exciting experiences for me is assisting an organization in leveraging disruptive technologies and events that result in the creation of a competitive advantage. This should be a growing focus for many organizations – too many are either resisting or not adapting.
Board effectiveness: Managing through, and embracing, uncertain times
Business ecosystems are expanding and, as a consequence, the number of decisions required are growing in response to both the rate of change and the broadening range of issues. Boards can’t just look backwards. Directors need the right forward-looking information about strategy, culture, people and customers to cuts through the noise and enables decisions. Is your Board ready to excel in this new uncertain world?
Transparency: Will more disclosure mean greater clarity?
New international auditing standards will require enhanced reporting by the auditor and some jurisdictions also require reporting by the audit committee. Not only does this provide organizations with more opportunities for informing their multiple stakeholders, it also raises many questions. Contact me and let’s begin exploring opportunities on how to enhance communication on how your audit committee discharges its responsibilities.