The Board Room for the Future

Room for the Boardroom in the future

The boardroom needs to keep pace with the advancements in technology. This will require skilled highly-skilled, commercially savvy C-Suite executives who can distinguish temporary trends from vital tools. They can make the most use of new technologies and help ensure they are incorporated into the business strategy. They can also provide the knowledge needed to decide whether a new tool should be incorporated or not.

The boardroom of the future will have to be agile and dynamic in order to build resilience to the company’s strategy, operations and culture. This means being curious enough to see the potential for challenges near the horizon and downstream impacts, evaluating alternatives that were not considered and identifying new opportunities.

Boards will need to adopt flexible meeting formats. Remote meetings will be conducted by using videoconferencing platforms and collaborative platforms to allow global directors who aren’t able travel to a greater level of participation. Boards will also need to adopt sustainable practices. With investors increasingly zeroing in on the sustainability performance of businesses it is essential that current and future board members are educated on ESG and climate issues.

The boardrooms of the future will encourage the culture of development and learning for everyone. This will mean a greater emphasis on board education including guest speakers and interactive sessions that keep the board informed of industry trends and best practice. M1 Business Hub’s professional development courses can help to support this by providing expert-led workshops and resources that keep the board on top of business practices.

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