In a time http://www.boardroomchallenge.com/10-tips-for-better-board-agendas-and-board-minutes/ of unprecedented instability resilient boards are adapting to a changing landscape. They are redefining their lines of responsibility which include sustainability and purpose which go beyond the role of shareholders. They also take on different perspectives and diverse voices to define the future of success.
Technology in the boardroom will continue to revolutionize how boards function. Secure platforms facilitate real-time communication and collaboration between geographically dispersed directors while data analytics provide greater understanding to help make better decisions. Artificial intelligence can also assist in tasks such as agenda preparation and risk assessment, allowing directors to concentrate their attention on strategy.
Another trend in the boardroom is to incorporate natural light into meeting spaces as a way of encouraging healthier and more productive conversations. In fact recent Harvard Business Review study ranked natural light as the top office perk, beating more obvious options like cafeterias on site and fitness centers.
Cyberthreats are becoming a greater concern for businesses. It is important that directors of boards stay current on the threats and vulnerabilities of their company to ensure that they manage cybersecurity effectively. This could include forming dedicated committees and appointing lead directors. It could also mean investing in specific board training.
Board directors need to adopt an ongoing learning mindset as the pace of change increases. This will help them remain interested in the latest problems and analyze previously unconsidered options, allowing them to guide management to innovative strategies that make the company stand out within their field.
