Room for the Boardroom for the future
Technology is becoming a key component in every business and the boardroom must to keep pace. This requires specialized and commercially-savvy C-Suite executives who are able to differentiate temporary trends from vital tools. These experts can make the most of modern technologies and help ensure that they are incorporated into the business strategy. They can also give the knowledge needed to decide whether a brand new tool will be implemented or not.
To ensure resilience within the organization’s operations as well as its culture and strategy the boardroom of the future must be dynamic. This means being curious enough to discover issues around the corner and the downstream effects, evaluating alternatives that aren’t considered, and spotting new opportunity.
Boards must embrace flexible meeting formats. This could include remote meetings with videoconferencing and collaborative platforms, enabling more participation from global directors who are unable to travel in a timely manner. It is also crucial for boards to embrace sustainable practices. With investors increasingly focusing on the sustainability performance of companies, it is vital that board members remain informed about ESG and climate issues.
The boardrooms of the future will foster a culture of development and learning for all board members. The boardroom of the future will place greater emphasis on education, and will include interactive sessions and guest speakers to keep them informed about industry trends and the best practices. M1 Business Hub’s professional training programs can assist in this by providing expert-led workshops and resources that keep the board on top of business practices.