With a rapidly changing business landscape and increasing expectations for shareholders board members have the chance to shape the boardroom to meet the needs of the future. By embracing a forward-thinking approach to governance and focusing on the pursuit of continuous learning, boards can be prepared for the challenges and opportunities that will be ahead.
A sustainable boardroom requires a compelling narrative and a clear understanding of the data. This includes a clear image of the impact of the business on society as well as its environmental footprint and commitment to sustainability principles. Likewise, the boardroom must be equipped to handle complex and interdependent business cycles. To meet these demands, board members will need technology that is easy to manage and secure. The risk of a potential breach must be taken into consideration.
BoardPro, for example, allows all stakeholders to communicate and collaborate effectively. It allows boards to have access to “living” data and real-time analytics to ensure they are able to see at any given moment the impact of their decisions on the business. Furthermore, using technology that permits the use of crowdsourcing may allow businesses to gain valuable insight from their customers, employees and other members of the community who could have information that might otherwise be difficult to access.
The boardroom of the future will be one that is more diverse and inclusive. It must be aware that diversity isn’t just about race or gender but also about the mindset and background. The boardrooms of the future will also be focusing on education in order to better handle cybersecurity and other issues that are emerging, like climate change.