The Boardroom of the future
Technology is now a crucial component in every business and the boardroom has to keep up. C-Suite executives with a strong commercial acumen and a specific background will be needed to distinguish between trends that are not sustainable and the tools that are essential. They can help you get the most out of new technologies and ensure they are integrated into the business strategy. They can also give the knowledge needed to decide whether a new technology should be used or not.
The boardroom of the future will require to be fluid and flexible to ensure that resilience is built into the organization’s strategy, operations and culture. This means being able to discover the hidden challenges and their downstream consequences considering previously unconsidered possibilities, and seizing new opportunities.
Boards must adopt flexible meeting formats. This includes remote meetings with videoconferencing and collaborative platforms that allow an increased level of participation from global directors who aren’t able travel to their destinations easily. Boards will also have to adopt sustainable practices. With investors increasingly focusing on the sustainability performance of companies, it is vital that the board’s current and future members are educated on ESG and climate issues.
The boardroom in the future will encourage an environment of continual learning and improvement among all members. This will involve a greater emphasis on education for board members featuring guest speakers and interactive sessions that keep the board informed of current trends in the business and best practices. M1 Business Hub’s professional development programs will help support this by offering workshops and resources facilitated by experts that will keep the board on the cutting edge of business practices.
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