Monday, April 22, 2024

g-f(2)2273 Navigating Disruption: A New Era for Corporate Boards

 


genioux Fact post by Fernando Machuca and Copilot



Introduction 


The INSEAD Knowledge article “Are Boards Forward-Thinking Enough in this Disruption Era?” explores the challenges that corporate boards face in an era of rapid change and disruption. It emphasizes the need for boards to adopt a more forward-thinking mindset and integrate major global trends into their strategic decision-making.



genioux GK Nugget


"In the era of disruption, corporate boards need to be forward-thinking, integrating global trends into strategic decision-making to navigate change effectively." — Fernando Machuca and Copilot, April 22, 2024



genioux Foundational Fact 


The article underscores the need for corporate boards to recalibrate their governance approach in response to rapid change and uncertainty. It identifies a tendency to underestimate the influence of external trends on the future of organizations, including generative artificial intelligence (GenAI), trade factors, geopolitical disruptions, and climate and sustainability issues. The article emphasizes that these trends cannot be considered in isolation, particularly over the long term, and that boards must weave them into the fabric of their strategic decision-making.



The 10 most relevant genioux Facts



  1. Corporate boards face challenges in an era of rapid change and disruption.
  2. The old assumption that the past informs the future no longer holds true.
  3. Boards need to recalibrate their governance approach to be more forward-thinking.
  4. External trends such as GenAI, trade factors, geopolitical disruptions, and climate and sustainability issues significantly influence the future of organizations.
  5. These trends cannot be considered in isolation, particularly over the long term.
  6. Boards must integrate these major global trends into their strategic decision-making.
  7. Boardroom discussions need to encompass a broader array of issues.
  8. Board members often feel ill-prepared, both in terms of their skill set and the traditional board agenda.
  9. The article provides seven recommendations for boards to recalibrate their governance strategies and skill sets.
  10. These steps can help boards navigate at unparalleled speed amid deep uncertainty.





Conclusion 


In conclusion, the INSEAD Knowledge article “Are Boards Forward-Thinking Enough in this Disruption Era?” provides valuable insights into how corporate boards can navigate the challenges of rapid change and disruption. By adopting a more forward-thinking mindset and integrating major global trends into their strategic decision-making, boards can effectively guide their organizations through this era of disruption.



REFERENCES

The g-f GK Article


Ron Soonieus, Are Boards Forward-Thinking Enough in this Disruption Era?INSEAD Knowledge, April 18, 2024.



ABOUT THE AUTHOR


Ron Soonieus is a boardroom and corporate governance advisor. He works with boards and senior management to make responsibility and forward thinking a value-capturing reality, turning today’s social, environmental, economic, and technological transformations into a source of lasting competitive advantage. He specialises in setting board agenda to focus on creating long-term value while navigating near term challenges, bridging the divide between competing stakeholder interests and provide guidance on the tough choices faced by management.



Classical Summary


[1]: https://knowledge.insead.edu/leadership-organisations/are-boards-forward-thinking-enough-disruption-era

[2]: https://knowledge.insead.edu/print/pdf/node/46056


The article "Are Boards Forward-Thinking Enough in this Disruption Era?" discusses the challenges that corporate boards face in an era of rapid change and uncertainty¹[1][2]. It argues that the old assumption that the past informs the future no longer holds true, and that boards need to recalibrate their governance approach¹[1][2].


The article identifies a general tendency to underestimate the influence of external trends on the future of organizations¹[1][2]. These trends include generative artificial intelligence (GenAI), factors linked to trade, geopolitical disruptions, as well as climate and sustainability¹[1][2]. The business implications of these external trends cannot be considered in isolation, particularly over the long term¹[1][2].


The article emphasizes that boards must adopt a more forward-looking mindset and weave major global trends into the very fabric of their strategic decision-making¹[1][2]. This requires evolving the nature of boardroom discussions to encompass a broader array of issues¹[1][2]. However, board members often feel ill-prepared, both in terms of their skill set and the traditional board agenda¹[1][2].


The article concludes with seven recommendations for boards to recalibrate their governance strategies and skill sets¹[1][2]. These include not delaying in getting their bearings, updating and upskilling the board's expertise, and revamping the board agenda and pace¹[1][2]. The article argues that these steps can help boards navigate at unparalleled speed amid deep uncertainty¹[1][2].


Source: Conversation with Bing, 4/24/2024

(1) Are Boards Forward-Thinking Enough in this Disruption Era?. https://knowledge.insead.edu/leadership-organisations/are-boards-forward-thinking-enough-disruption-era.

(2) Are Boards Forward-Thinking Enough in this Disruption Era?. https://knowledge.insead.edu/print/pdf/node/46056.






Ron Soonieus


[1]: https://www.bcg.com/about/people/experts/ron-soonieus

[2]: https://hbr.org/2019/04/how-board-members-really-feel-about-esg-from-deniers-to-true-believers

[3]: https://bing.com/search?q=Ron+Soonieus+summary

[4]: https://knowledge.insead.edu/author/ron-soonieus

[5]: https://camunico.com/ron-soonieus/

[6]: https://www.insead.edu/bio/ron-soonieus


Ron Soonieus is a Senior Advisor for Boston Consulting Group’s Social Impact practice and a non-executive director at the University of the Arts in the Netherlands¹[1]. He also serves as Director in Residence at INSEAD¹[1]. His expertise involves integrating sustainability and ESG (environmental, social, and governance) into corporate strategy, governance, and culture¹[1]. He works with clients to develop a culture of purpose and adopt a sustainable corporate mindset and behaviors¹[1]. In his role at INSEAD, Soonieus researches and teaches about the role of the board in sustainability and ESG¹[1]. He has also won the EFMD CSR case competition with the INSEAD business case “Barry Callebaut: Forever Chocolate”¹[1].


Source: Conversation with Bing, 4/24/2024


(1) Ron Soonieus - Boston Consulting Group. https://www.bcg.com/about/people/experts/ron-soonieus.

(2) How Board Members Really Feel About ESG, from Deniers to True Believers. https://hbr.org/2019/04/how-board-members-really-feel-about-esg-from-deniers-to-true-believers.

(3) Ron Soonieus - Boston Consulting Group. https://bing.com/search?q=Ron+Soonieus+summary.

(4) Ron Soonieus | INSEAD Knowledge. https://knowledge.insead.edu/author/ron-soonieus.

(5) Ron Soonieus - Camunico. https://camunico.com/ron-soonieus/.

(6) Ron Soonieus | INSEAD. https://www.insead.edu/bio/ron-soonieus.



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Categorization


This genioux Fact post is classified as Breaking Knowledge which means: Insights for comprehending the forces molding our world and making sense of news and trends.



Type: Breaking Knowledge, Free Speech



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