Top Must-Read Books for Boards and C-suite -2022

Board Members have always been critical to the success of a company but their role has become even more important in recent years. As we enter a period of stagflation, Board Members need to be clear on their strategy and how to navigate these challenges. Geopolitical risk is another area where Board Members need to be up-to-date and able to make decisions quickly. The future of work is also changing and Board Members need to understand how this will impact their business. Finally, Board Members also need to be aware of material issues associated with ESG. These are all areas where Board Members need to have a clear understanding in order to make the best decisions for their company. Thankfully, there are many resources available for Board Members to learn about these topics and gain the knowledge they need to be successful.

Some of the best books I recommend for the aspiring and experienced Board Members and the C-suite include:

1. Hearts Touched with Fire, how great leaders are made.

Heart-Touched with Fire is a leadership manual that distills experience and wisdom from some of the world's most iconic leaders. Written by renowned The White House advisor and leadership expert David Gergen, the book reveals time-tested secrets of dynamic leadership and how to apply them in today's ever-changing landscape.

Through stories and examples of great leaders throughout history, Gergen shows readers how to develop self-awareness and achieve self-mastery, two essential prerequisites for effective leadership. He also discusses the importance of passion and purpose in leadership, and how to navigate crises from the lessons learned from history.

Heart-Touched with Fire is an inspirational and practical guide that will help readers develop their own unique leadership style and make a lasting impact on the world.

2. True North: Emerging Leader Edition

In today's business world, it is more important than ever to be an authentic and inclusive leader. With so many challenges and crises facing organizations, it is essential to have a moral compass and the strength to lead through difficult times.

The True North Leadership Framework can help you develop these crucial skills. Based on the bestselling book by Bill George, this framework provides a roadmap for becoming an effective leader in today's environment.

The True North Leadership Framework includes four key components:

- Self-awareness: Knowing who you are and what your values are

- Living your values: Making decisions that align with your core values

- Strengths-based leadership: Drawing on your unique strengths to create value for others

- Leading with purpose: Creating a shared sense of purpose within your team or organization.

- Integrating all aspects of your life—including who you are at home, at work, and in the community.

By following the True North Leadership Framework, you can develop the skills needed to lead effectively in today's ever-changing business landscape.

3. Tomorrow's Capitalist: My Search for the Soul of Business

As someone who has spent most of his career working in and around the corporate world, Alan Murray has seen firsthand how profit motive can sometimes lead to unethical behavior. I’ve also seen how, done right, business can be a powerful force for good in the world.

At the heart of multi stakeholder capitalism movement is a new understanding of what it means to be a capitalist. No longer can businesses operate solely for the benefit of shareholders. Instead, they must take into account the needs of all their stakeholders—employees, customers, suppliers, the environment, and society at large. This shift is called “stakeholder capitalism,” and it represents a fundamental change in the way businesses think about their purpose.

Gone are the days when companies could simply maximize shareholder value and leave all other considerations to government or philanthropy. In today’s world, businesses must be purpose-driven, taking into account the needs of society as well as the bottom line.

4. Deep Purpose

Ranjay Gulati takes readers inside some of the world’s most purposeful companies to understand the secrets to their successes. He explores how leaders can pursue purpose more deeply by:

1. Navigating the inevitable tradeoffs more deliberately and effectively to balance between short- and long-term value.

2. Building purpose more systematically into every key organizational function to mobilize stakeholders and enhance performance.

3. Updating organizations to foster more autonomy and collaboration, which in turn allow individual employees to work more purposefully.

4. Using powerful storytelling to communicate a clear and inspiring sense of purpose throughout the organization.

Gulati’s insights offer a road map for companies that want to move beyond the traditional focus on shareholder value and build a more sustainable, Purpose-driven business.

5. CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest

From the world’s most influential management consulting firm, McKinsey & Company, this is an insightful and revelatory look at how the best CEOs do their jobs. Based on extensive interviews with some of today’s most successful corporate leaders—including those at Netflix, JPMorgan Chase & Co., General Motors, and Sony—the book provides readers with an inside look at what it takes to be a successful CEO.

CEOs are under immense pressure to deliver growth and performance, and the stakes are high—billions, and even trillions, of dollars are at stake, and the fates of tens of thousands of employees often hang in the balance. Yet, even when “can’t miss” high-achievers win the top job, very few excel at it. In fact, research shows that only about 10 percent of CEOs are truly successful.

So, what separates the best from the rest? Growth is essential for any CEO, but it’s not enough. To really be successful, a CEO must also deliver high performance—and that requires a different set of skills.

Growth-oriented CEOs focus on expanding the pie—on finding new markets and new opportunities for their companies. Performance-oriented CEOs, on the other hand, focus on executing at a high level and making the most of the resources they have.

The best CEOs are able to do both—to grow the pie and to perform at a high level. They are able to develop a clear and compelling vision for their companies, build the right teams, and execute flawlessly.

The McKinsey senior partners, Vik Malhotra , Scott Keller , Carolyn Dewar provide the six mindsets of exceptional CEOs that are so relevant to the modern era:

1. They are bold, and set the direction for their company.

2. They work to get everyone aligned, and treat the soft stuff as hard.

3. They mobilize their strategy through their leadership.

4. They engage their directors, and help them help the company.

5. They connect with shareholders, and start with "Why?"

6. They are effective, and do what only they can.

If you’re looking to take your career to the next level, or if you’re simply interested in what it takes to be a successful CEO, this book is a must-read.

6. Trust and Inspire -How Truly Great Leaders Unleash Greatness in Others

Trust is the foundation of any successful relationship, whether it be personal or professional. And yet, in today's workplaces, trust is often in short supply. Stephen M. R. Covey has made it his life's work to understand trust in leadership and organizations. In his newest and most transformative book, Trust and Inspire, he shows that the key to unlocking the power of Trust is found in what he calls the "4 C's":

-Care: Demonstrating a genuine concern for others

-Clarity: Communicating openly and transparently

-Commitment: Keeping your word and following through on your promises

-Compassion: Showing empathy and understanding for others

When leaders embody these qualities, they inspire trust in those around them. And when Trust is present, amazing things can happen: employees are more engaged, creativity flourishes, and businesses thrive.

If you want to learn how to build Trust in your organization, this book is a must-read.

7. If Nothing Changes, Nothing Changes: The Nick Donofrio Story 

If Nothing Changes, Nothing Changes is a powerful testimony to our ability as human beings to drive transformation, not just within the realm of technology but across generations. With both heart and candor, Nicholas Donofrio explores how his upbringing in an immigrant family and his experience shaped his leadership style and approach to innovation.

If Nothing Changes, Nothing Changes, is more than just a business and technology biography.

Nicholas has laid out in practical terms how to embrace a market-centric focus, push for new ground-breaking technologies, and redefine innovation in a way that broke down decades-old silos.

Everyone has the opportunity and responsibility to be a change agent in their organization and society by having a mindset of "always accept the challenge". His example is depicted vividly throughout his career at IBM and as a leading board member at various fortune 500 firms.

In particular, Donofrio highlights the importance of always looking for the potential for good in technology, even when it seems like there is none. He shares stories from his time at IBM of how he drove innovation within the company, and how those same principles can be applied to any organization.

Beautifully written and illustrated with memorable stories filled with practical advice on ways to prepare you as a leader, as an effective board member, and to show you why If Nothing Changes, Nothing Changes.

One of the best books I have ever read on tech history, business model differentiation, and purposeful innovation.

8. Cybersecurity for Business: Organization-Wide Strategies to Ensure Cyber Risk Is Not Just an IT Issue

As the world becomes increasingly digitized, businesses must be ever vigilant against cyber threats. Cybersecurity for Business takes the complicated and ever-changing world of data security and technology and offers a remarkably cogent collection of guidance from industry experts. The result is a practical and wide-ranging text and a powerful tool for keeping businesses safe.

This ISA book on cybersecurity risk management hits the mark on enabling organizations to contextualize cyber risk to financial, operational and business outcomes. These core principles align to the heightened expectations across the regulatory (SEC), investor, risk management and boardroom communities.

With step-by-step instructions, and real-world examples, Cybersecurity for Business is an essential resource for any organization looking to protect itself from the ever-growing threat of cybercrime. Cybersecurity for Business is an invaluable resource for any organization looking to strengthen its cybersecurity posture.

Larry Clinton has done an amazing job in editing this crown jewel. The book provides a comprehensive overview of cybersecurity risks and mitigation strategies, as well as tips for incident response and recovery. And don’t forget the forward by Peter Gleason. It offers guidance for your board of directors, developing key inter-organizational relationships, and communicating effectively with stakeholders.

9. Race Anti-Racist Leadership: How to Transform Corporate Culture in a Race-Conscious World

When it comes to creating an anti-racist workplace, leaders have a crucial role to play. As the people in charge of setting the tone and direction for their organizations, they have the power to make real change happen.

James D. White and Krista White has put together this amazing book. It's a comprehensive guide to building an anti-racist company, from the ground up. This book challenges leaders at all levels to get involved in creating and cultivating equitable communities.

You'll learn about the history of racism in America and how it manifests in the workplace today. You'll also get concrete advice on what you can do to create a more diverse, equitable, and inclusive work environment.

If you're ready to take a bold stance against racism and create a better world for your employees, customers, and community, this book is for you.

10. Stewards of the Future: A Guide for Competent Boards

As board directors, we are stewards of the future. We have a responsibility to ensure that the companies we represent are sustainable and profitable in the long term. However, this is not always easy. We must contend with a wide range of stakeholders who can affect the fortunes of our companies – investors, customers, suppliers, employees, politicians, and activists, among others.

On top of that, we must also navigate complex issues such as climate change, ESG, corruption, cybersecurity, human trafficking, and supply-chain resiliency. But if we are to be successful in our roles, it is essential that we have the insight to ask the right questions of management on these issues. Only then can we make the decisions that are in the best interests of our companies and our stakeholders.

Helle Bank Jørgensen provides the framework for how to think about and address these challenges. The book is divided into four sections:

1. The Board’s Role in Corporate Strategy

2. Environmental, Social, and Governance Issues

3. Stakeholder Relationships

4. Board Processes and Practices

Each section contains articles, case studies, and interviews with leading experts that will help you to understand the issues and make informed decisions.

With this book as your guide, you will be able to navigate the challenges of 21st-century board governance and create long-term value for your company. A must read if you need to be a successful board director.

11. The Man Who Broke Capitalism: How Jack Welch Gutted the Heartland and Crushed the Soul of Corporate America―and How to Undo His Legacy

Jack Welch is one of the most important business leaders in modern American history. His strategies destroyed a once-great company, GE, and paved the way for the rise of short-termism and shareholder value as the primary goals of businesses.

In his new book, The Man Who Broke Capitalism, Pulitzer Prize-winning journalist David Gelles tells the story of Welch's rise to power and the devastating impact his policies had on GE, the economy, and society as a whole.

Gelles' new book, "The Man Who Broke Capitalism", chronicles how we got to this point, and how the pandemic has only accelerated the need for change. He makes a compelling case that businesses need to start putting employees first if they want to create a sustainable future.

Gelles makes the case that business is more than for profit and that it is by doing good that you can do well. He provides a roadmap for the way forward and an indictment of short-termism that offers an urgent call for business leaders at all levels to be responsible and care for stakeholders.

If you're interested in learning more about how capitalism can be reformed, or simply want to understand the current state of business culture, this book is a must-read.

12. Radically Human: How New Technology Is Transforming Business and Shaping Our Future

Most businesses today are built on a foundation of outdated technology. But what if there was a way to use new technology to create a more sustainable future?

Technology advances are making tech more . . . human. This changes everything you thought you knew about innovation and strategy.

In their groundbreaking book, Human + Machine, Accenture technology leaders Paul Daugherty and H. James Wilson showed how leading organizations use the power of human-machine collaboration to transform their processes and their bottom lines. Now, as new AI powered technologies like the metaverse, natural language processing, and digital twins begin to rapidly impact both life and work, those companies and other pioneers across industries are tipping the balance

In Radically Human, Daugherty and Wilson bring their unique insights to bear on these groundbreaking technologies and explore how they will shape our future. With their signature mix of deep research and real-world examples, they show how these new technologies are redefining what it means to be human and how we can use them to create a better future for all of us.

Radically Human is essential reading for anyone who wants to understand how the new era of human-centered AI will change the world as we know it.

12. Leading with Heart: Five Conversations That Unlock Creativity, Purpose, and Results

Authentic Conversations are lacking in the workplace to drive high-trust relationships and people-first culture. Leaders need to be able to have open and honest conversations with their team in order to build trust and connection. John Baird and Edward Sullivan offer tips on how to create these conversations and sustain them over time.

Most people want to work for a noble purpose, not just a paycheck. Leaders need to be clear in articulating the noble purpose to attract and retain the best talent. It is imperative for board members and C-suite to anchor noble purpose with the business strategy. It is the only way to sustain multi-stakeholder capitalism.

Creativity in the Postpandemic World is much more important as we navigate the stagflation, geopolitical risk, and supply chain issues. The C-suite need to be able to work with their board members to create a shared vision and purpose for the company.

This book offers insights, practical tools and advice to build a more inclusive company culture.

Question: What other books do you recommend for board members? Please share your thoughts in the comments section below.

For professional insights into complex issues, join the conversation by tweeting Khwaja at @Khwaja_Shaik or connecting with him on LinkedIn.

ABOUT KHWAJA SHAIK

KHWAJA SHAIK is the award-winning C-level Global IT Executive with 25+ years of technology, industry, and board leadership with GE, IBM, Bank of America & PwC. He was recognized globally for turning visionary thinking into breakthrough growth. As one of IBM’s CTOs, Khwaja counsels CEOs, Boards, and Startups on corporate strategy, digital transformation, AI, Cybersecurity, ESG, and culture shifts to unlock performance.

Using his innovative mindset, he saved $1.1 billion per year for Bank of America by transforming the Global IT Operating model and future-proofed business by mitigating risk and infusing new fintech. Khwaja has 20 years of experience in the highly regulated banking and financial services industry. 

In addition, as a Big5 thought leader at PwC, he incubated new businesses, reshaped business and platform operating models— digitized end-to-end business processes to capture value, and protected firms from cyberattacks through AI & the cloud.

Khwaja has a history of leading over $10B digital business transformations by scaling Agile practices for cost optimization, revenue-generation, and societal transformation imperatives. It includes digital business optimization and using digital business models to capture profitable growth, customer lifetime value & competitive advantage to Fortune 500 firms.

Khwaja transformed the Omnichannel customer experience by delivering world's largest next-gen Contact Center platform as part of BAC's M&A (CFC, MBNA, Fleet etc.) by replacing aging telephony system with VoIP. Contact Center platform serves 1 billion calls, 500K interactions annually and 300 million outbound calls annually to support multichannel strategy

In 2016, Khwaja was among the most exceptional IBMers appointed with the rare distinction of IBM Academy of Technology member. In 2020, Khwaja was recognized as IBM’s senior inventor and top 100 technical leaders driving technology ethics and data stewardship, providing the direction of IBM on societal transformation with responsible innovation that matters.

Service to others has been a part of Khwaja’s purpose. Khwaja promotes economic equity, social responsibility, diversity, and inclusion for the prosperity of all -the reinvention of education through innovative programs such as Open P-TECH. Due to his holistic stakeholder engagement in the industry, partner ecosystem, and community, Khwaja received several service awards from IBM, Bank of America, University of North Florida, Indo US Chamber of Commerce of Northeast Florida, and 2022 ORBIE Awards FloridaCIO Finalist.

Khwaja serves on the boards of directors of the Museum of Science & History, UNF School of Computing Advisory Board, TECt, MIT CIO Forum, Interfaith Center of Northeast Florida, and McKinsey Executive Panel.

Khwaja regularly writes on LinkedIn, Twitter and regularly interviewed for industry insights or cited in the news, Thought Leadership POVs. He is a frequent international speaker at elite universities, including IIT Hyderabad, CIO IT & Security Forum, MHI Supply Chain Conference, and JAX Chamber IT Council.

Khwaja is a Fellow of Herndon Directors Institute, sponsored by Nasdaq and Atlanta Life Insurance Company. Khwaja holds an MBA and a bachelor’s degree in Engineering. Khwaja lived on three continents, experienced three different cultures, reads too much, doesn’t do enough gardening, married for over 22 years, and has two boys.

 More details on Khwaja’s career and thought leadership activities could be found via Linkedin, Khwajashaik.com or follow him on Twitter @Khwaja_Shaik

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