The Board Room for the Future

http://www.boardroomchallenge.com/virtual-board-meetings-guide/

Boardroom of the future

The boardroom must keep up with the technology revolution. This will require specialised and commercially-savvy C-Suite executives who are able to distinguish temporary trends from vital tools. These experts can assist in making the most out of emerging technologies and ensure they are integrated into the business plan. They will also offer the knowledge required to determine whether an innovative tool is worth implementing or not, as well as the training required for all employees.

The boardroom of the future will require to be fluid and flexible to ensure that resilience is built to the company’s strategy, operations and culture. This requires being curious enough to see the potential for challenges in the future, as well as downstream impacts, evaluating the unexplored options and spotting a new opportunity.

Boards will have to adopt flexible meeting formats. Meetings will be held remotely using video conferencing platforms and collaborative platforms to give global directors who aren’t able travel easily to enjoy a greater amount of participation. Boards will also have to adopt sustainable practices. With investors increasingly focusing on the sustainability performance of businesses It is crucial that the board’s current and future members are well-informed about ESG and climate issues.

The boardrooms of the future will promote a culture of learning and development for everyone. The future boardroom will place a greater focus on education, with interactive sessions and guest speakers to keep them updated about the latest trends in the industry and the best practices. M1 Business Hub’s professional development programs can help to support this by providing expert-led workshops and resources that keep the board at the forefront of business practices.

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