new report guides boards and executives through digitalisation
one of the leading graduate business schools, INSEAD, and business consultancy this fluid world have jointly published a new report highlighting the impact of digitalisation on the role of boards and company executives. analysing the changes caused by digitalisation on the business environment, the organisation and strategy, the report, ‘Directing Digitalisation: Guidelines for Boards and Executives’, offers 11 key implications and recommendations, along with real-life examples of companies embracing digitalisation
The 11 implications and associated recommendations provide an enlightening perspective for boards and executives looking to navigate the digital waters, with observations and advice shared across three main areas:
1. impact of digitalisation on the business environment
digitalisation is having a fundamental impact, directly and indirectly, on society, industry structures and organisations. the report provides board members and executives with a clear understanding of the new business environment in which companies operate, and offers guidance to assist these leaders in taking a relevant approach to business in a digital marketplace
2. impact of digitalisation on the organisation
while boards and executives cannot control the impact of digitalisation on business, they have the power and the responsibility to ensure the organisation is fit-for-purpose for the 21st century. the report provides boards and executives with an overview of the role of a company’s mission, structure, capabilities, corporate culture and ways of working in shaping the organisation to perform in a digitalised business world
3. impact of digitalisation on the strategy
the traditional approach to formulating strategy no longer fits a digitalised marketplace, where big trends appear at lighting speed, strategic choices are constant, and windows of opportunity are short. the report provides boards and executives with an alternative approach to strategy development: one that is based on a continuous approach to analysis, decision making and strategy formulation. it is an approach that increasingly relies on the utilisation of data by boards and executives, and a leadership mindset geared towards learning, experimentation and collaboration
path towards a digital future
in the digital world, those who embrace the changes and opportunity will thrive, while those who stick to the ‘tried and true’ will – quite simply – not. the insight and concrete recommendations provided by the report, ‘Directing Digitalisation: Guidelines for Boards and Executives’, will support leaders to determine in which camp they belong, and take the necessary steps to drive the success of their organisation through its digitalisation
click here to view the complete report ‘Directing Digitalisation: Guidelines for Boards and Executives’, or download it here
the authors
Liri Andersson, Founder, this fluid world
Liri Andersson is the founder of this fluid world, a boutique business and marketing consultancy that enables Fortune 500 organisations understand, navigate and commercially exploit the changing business and marketing environment
Ludo Van der Heyden, Chaired Professor of Corporate Governance & Professor of Technology and Operations Management and Director, Corporate Governance Initiative, INSEAD
Ludo Van der Heyden is the founding Director of INSEAD’s Corporate Governance Initiative. He is co-Director of the International Directors Programme and ‘Value Creation for Owners and Directors’ and lectures on leadership, team dynamics and business model innovation
for more reports by the INSEAD Corporate Governance Initiative, click here
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