Board room for the future
Technology is becoming a key component in every business and the boardroom has to keep pace. This will require specialised highly-skilled, commercially savvy C-Suite executives who can distinguish temporary trends from vital tools. They can help you get the most out of the latest technologies and ensure that they are incorporated in the business strategy. They can also give the information needed to determine whether a new tool should be used or not.
In order to create resilience in the organization’s operations as well as its culture and strategy, the boardroom of tomorrow must be dynamic. This requires being curious enough to uncover around-the-corner challenges and downstream impacts considering previously unconsidered possibilities and identifying new opportunities.
Boards must embrace flexible meeting formats. This includes remote meetings using video conferencing and collaborative platforms, enabling a greater level of participation from global directors who are unable to travel easily. It is also essential for boards to adopt sustainable practices. Investors are increasingly concerned about the sustainability performance and climate issues of businesses. It is vital that future and current board members are well-informed.
The boardrooms of the future will encourage a culture of learning and development for all board members. The future boardroom will be more focused on education and training, incorporating interactive sessions and guest speakers to keep them updated about the latest trends in the industry and the best practices. M1 Business Hub’s professional training programs will support this by offering workshops and resources facilitated by experts to keep the board on the cutting-edge of business practices.