Insights
Diversified Search: 7 Ways Board Directors Can Add Value
The world is transforming around us at an unsettling pace — bitcoins, robotics, drones and a myriad of other technical advances are changing business models across every industry.
Never before have boards played such an important role in asking probing questions of management, and bringing an outside perspective into the boardroom to ensure that the company is not blindsided by emerging technologies or new competitors.
Excellent boards go beyond governance - they serve as strategic assets to companies and help them reach their full potential. Savvy directors are pushing themselves to keep up with the swift changes happening in the world. Rather than relying on past experience, they’re actively seeking new experiences and contacts that will enable them to develop a fresh perspective to better understand the challenges being faced by companies today.
According to Diversified Search, here are seven ways directors can keep up and stay current to add value in today’s boardroom.
- Engage between board meetings
- Put on the hats of both the customer and the employee
- Learn from other directors
- Bring in experts to address challenges and possibilities
- Develop new skills — and stay on top of technology innovations
- Don’t give up your day job
- Create a portfolio of business activities