co:collective’s Post

No board is the same, with each being heavily shaped by its composition, board chair, internal culture, and how agendas are crafted. But what’s important is that all boards share a common goal: to embrace varied ways of thinking and prioritize long-term strategy. In this installment of Stewardship Conversations, Egon Zehnder’s Global Head of Sustainability Rachael De Renzy Channer sat down with author, Board Trustee at the Institute Of Neurodiversity ION, and Visting Fellow at Henley Business School for Entrepreneurship and Innovation, Tony Fish to discuss how board dynamics can be improved when diverse perspectives are taken into account. Check out the full interview here: https://ego.nz/3U3nPJj

This is a really valuable course and worth the time investment if you're trying to drive dynamic change in your organization: “Measure What Matters: Succeeding with Objectives and Key Results (OKRs)” by Measure What Matters, John Doerr, and Ryan Panchadsaram! Check it out: https://lnkd.in/eSidnacM #objectivesandkeyresults.

C-suite leaders' mission is to create value for customers, investors, and broader society while remaining committed to legal compliance and deep-rooted decency. Achieving this equilibrium can be challenging. I've developed a framework to help navigate these complexities, which I've detailed in this article for CEO.works. I encourage you to read it and let me know your thoughts. Your insights are invaluable to this ongoing conversation. #BusinessEthics #Decency #CHRO CEO.works https://lnkd.in/g4HiADTh

This article from Bain sheds light on the superiority of founder-led companies compared to others. It highlights that while exceptional founders may appear unique, there are identifiable patterns or a "founder's mentality" that propels them to outperform their counterparts. Dive into the insights here: https://lnkd.in/eddu4g85

In my work with boards and business executives in the field of innovation and digital transformation, I've observed a growing recognition of the need to adapt governance strategies to address rapid changes and uncertainties. Boards often struggle with staying ahead of emerging technologies and understanding their implications for the company's long-term success. Addressing this challenge requires a proactive approach, including regular assessments of the board's expertise and the integration of dynamic scenario planning into the governance practices. Moreover, fostering af culture of innovation and flexibility in the boardroom is crucial for navigating disruptive times effectively. By aligning governance strategies with emerging technologies and acquiring relevant expertise, boards can better steer their companies toward sustained success in an uncertain business landscape. Based on collaborative research, the article highlights challenges in long-term strategic planning, particularly in underestimating the impact of external trends such as sustainability, AI, supply chains, and geopolitical disruptions. “This is definitely one of the most challenging times companies have ever faced – and it’s not likely to change any time soon.” To navigate these challenges, think about these seven recommendations for boards: 1️⃣ Stay informed and act promptly 2️⃣ Update board expertise 3️⃣ Recognise that disruption is an ongoing strategy reality 4️⃣ Address sustainability and GenAI regulatory requirements 5️⃣ Utilise dynamic scenario planning 6️⃣ Enhance the innovation capacity to stay competitive 7️⃣ Revamp the board agenda and I will add to the list of recommendations: 8️⃣ Invest in tech scouting 9️⃣ Engage with innovation and deep tech ecosystems 🔟 Identify and pursue new partnerships opportunities Research by Boston Consulting Group (BCG), Heidrick & Struggles and INSEAD. Ron Soonieus Isabelle Laporte cc Liselotte Hägertz Engstam 🌏♦️#innovation #sustainability #ESG #board #emergingtech https://lnkd.in/d9h4TH2J

In an era characterized by unprecedented speed and profound uncertainty, the traditional belief that the past predicts the future no longer remains valid. Today, corporations encounter an environment demanding boards to adjust their governance strategies. Here are 7 things that Instead’s and BCG’s Ron Soonieus advises. I find number 7 interesting, but is it possible? 1.     Don’t delay getting your bearings 2.     Update and upskill your board’s expertise 3.     Recognise that disruption is an ongoing strategy reality 4.     Go deep on sustainability and GenAI regulatory requirements 5.     Employ dynamic strategic scenarios planning (DSSP) 6.     Go hard on driving innovation 7.     Revamp the board agenda and pace https://lnkd.in/d3FuQTTn

🌟 Embracing Imperfection in Strategy 🌟 This thought-provoking piece from McKinsey resonated deeply with me, as it challenges the traditional quest for perfection in strategic planning.  Embracing imperfection isn't just practical—it's a necessity in today's ever-changing business landscape. Discover how accepting and working with imperfection can drive success and foster a more dynamic approach to strategy.  Read more below… #Strategy #BusinessLeadership #McKinsey

In the 4th week of BEW3001 class, we focused on Shareholder Theory and explored how they apply in today’s business world. This line of inquiry was based on the notion that a company’s main function is to generate returns to shareholders, a view that has defined corporate governance for decades. Here, we reviewed the genesis of Shareholder Theory and traced the enterprise back to Milton Friedman who famously opined that the business entity’s social responsibility is to enhance its profit, to the extent that it conforms to rules of the game. However, our discussions shifted to and in the ethical perspective on such thinking and whether it is effective and sustainable for the long term planning to focus strictly on shareholders . The necessity of striking a balance between the interests of shareholders and those of other stakeholders, such as employees, consumers, and the community,  was one of the main takeaways. We compared various practical examples of the companies that implemented the principle of shareholder supremacy leading to ethical issues, reputational damage, and even financial loss. This session has reminded all of us of the need to take a wider perspective of business ethicality as we design our business. Therefore, as future business leaders, it is necessary to begin by recognizing the limitations of Shareholder Theory and start seeking for other theoretical frameworks such as the Stakeholder Theory that can assist in the creation of ethical business organisations in the future. #BusinessEthics #ShareholderTheory #StakeholderTheory #CorporateGovernance #SustainableBusiness #EthicalLeadership #CorporateResponsibility #MiltonFriedman

In ode to my BoardAgender roots, sharing the Top #5 lessons on #Corporate #Governance from ‘Boardroom Matters’ published by the Singapore Institute of Directors for my book read, for the month of #March! Top #5 lessons as follows: - 1. 🌠🌠 From Good to Great Boards by Mr Adrian Chan Lee & Lee – There is no perfect board for all seasons. The ideal board is one that continually #evolves as the company and circumstances change. Boards should be “fit for purpose” and the composition should represent the best mix to bring the company forward. 2. ⚖️⚖️ Balancing Growth and Governance in startups by Mr Howie Lau How Sin 刘浩新 – Achieving 🦄 #unicorn status is almost always a key milestone for startups. Yet, delivering for 📈📈 growth and increased valuation is not the only key measurement. The dual role of the board is to ensure #conformance and #performance. The juggling act is challenging but necessary. It used to be FITUMI (Fake it till you make it) but perhaps it should be BITUMI (Balance it till you make it) 3. 🧠🧠 Every Board Member a Digital Director by Robert Chew - Transformed boards should comprise 4 new digital board roles – (1) The Digital Thinker, (2) Digital Disruptor, (3) Digital Leader and (4) Digital Transformer. In today’s landscape, having a digital savvy board is a non-negotiable as it is required to address the digital thought leadership, strategy formulation and strategy execution of the company. 4. 🌍🌍 The Sustainability Agenda for Boards by Max, Khum Whai Loh – Post pandemic, companies need to have resilient #ESGgovernance frameworks that are adequate to deal with crises and ESG related risks. Embed the strategy and thinking into annual reports and investor communications. Link these ESG performance metrics to executive compensation to drive change in behaviour and engender greater accountability for sustainable goals and practices. 5. 🫂🫂 Corporate activism: Barbarians at the gate no more by Alvin Chiang - Activism today is less about being anti-establishment than about being pro-cause. The next generations truly desire to be more actively involved in what their world looks like. Engage activists through #public #consultations to find solutions and address concerns. View them as #crusaders for #bettergovernance. Don’t dismiss them. Overall, a quick read and echoes the key points shared here by McKinsey & Company. Board directorship has changed dramatically with increasing complexity. The way forward is to grow together with trends ahead to stay adept. https://lnkd.in/g9Xy39CZ P/S – Forgive my stubby booktabs. I use Post-It-Notes as bookmarks/tabs as they conveniently double up as notepads for scribbles 😂

Very good summary on corporate governance and how boards should evolve with the company. Thank you Fernn Lim for this, really enjoy reading your lesson highlights!