In this recent article, you will understand how and why the IoT is impacting your role as a corporate director, even if you are on the board of a more traditional business. This will alert you to the fact that you need to start understanding how IoT is enabling new business models and technologies and that you need to stay abreast of its development to participate in your oversight role.
The Need to Use Digital Tools and Services
The only way for a board to understand digitalization is to use digital tools and services. This very interesting example from Finland demonstrates the role of the board in being ahead of new trends and technologies to set the tone in the need to innovate. It also shows the high price to pay if the board does not. It is also one more reason in favor of diversity at the board, here to include forward thinking individuals. It`s conclusion is make certain your board tweets, do you agree?
https://www.linkedin.com/pulse/board-never-tweeted-tuomo-virkkunen?trk=prof-post
CEOs that regularly use social media can help lower risks
Only 10% of Fortune 50 CEOs regularly Tweet. The most important reason for CEO to actively use social media is that it helps to share with all stakeholders the company values and influence culture from the top down. It will also ensure social media, where many of their customers spend part of their lives, becomes part of the culture. And a CEO that really understands and influences his company culture will help lower risks. Here are 5 more reasons CEOs should do it. Do you think that, for the same reasons, corporate director should also be involved in social media?
http://sabguthrie.info/2015/07/30/5-reasons-ceos-should-be-social-leaders/
Why strategy also matters in digital businesses
This report shows that strategy, not technology is the key driver of success in the digital arena. And the strategy needs to be supported by leaders who foster a culture able to change and invent the new. But more interestingly it highlights that risk taking is becoming a cultural norm in business in the digital age. This is impacting corporate director in their strategic oversight and risk management roles
http://sloanreview.mit.edu/projects/strategy-drives-digital-transformation/?utm_source=twitter&utm_medium=social&utm_campaign=dlrpt15
Women Get on Board - Toronto, June 10, 2015
I am speaking on a panel at Women Get on Board in Toronto June 10th 2015
I will have the pleasure of speaking at a WGOB event on June 10th at the Varity Club on the topic of networking. As you know being networked and maintaining your contacts is something I value. I will give advice and opinion on how and why corporate director have to stay connected to a diversity of individuals and businesses. Please join us and hear me speak if you are in Toronto on that day.