The speed of change will never be so slow as it is today… A provocative statement reminding us that the speed of change is everly increasing. We will see more change the next 10 years than the previous 250 years, much due to the exponential digital impact including Artificial Intelligence on our businesses and societies.
The way we work with strategy and control from the leadership team and the board will have to change accordingly. We have to work with clearer organisational purposes and to help guide our teams in their speedy decision making. We have to work with strong values and role models from our leaders. And we need to ensure that a value based supporting corporate culture is prevailing in our organisations.
So as boards we are responsible to ensure the corporate cultures of our organisations, but how do you monitor and guide such a lucid concept? In the newly released corporate governance code in UK they have now officially included this responsibility of the board to guide corporate culture, and also request them to share how they are monitoring it. Several of the major equity owners as Blackrock CEOs letter to their companies, also points to the boards responsibility of purpose and aligning corporate culture.
I was recently interviewed by global researchers led by Lucy Nottingham, Director at MarshMcLennan Insights and Women Corporate Directors, on my views and experiences on this topic. They have now concluded a global report Identifying and Responding to a Dysfunctional Culture: Key Actions for Boards. The report is filled with facts, insights and guidance to boards on how to monitor and guide their organisations on a positive and supporting corporate culture.
As boards we need to be aware of and help guide the corporate culture, as it is one the critical vehicles that will facilitate or hinder organisations focus on customer value, continous innovation and value creation for the longer term of all organisations.
This is an important , yet challenging area. Working to help move this topic forward in several efforts. From my board position of our Swedish Insead Alumni network and arranging events on the topic Business as a force for good. On March 27 we are delighted to hold a unique event on Value Based Leadership with Professor Ludo van der Heiden on Fair Process Leadership and Bernadottes impact on thisand KPA CEO Britta Burreau on Value Based Leadership in practice.
And from my board position at our global Insead Directors Network and running our global board webinar series, where we will learn from other board members and experts as Magali Depras and Key de Gier Formanek at our next IDN webinar March 19
The topic is also explored in my work as affiliated researcher in several research projects, all revisiting how boards contribute to corporate renewal and innovation.
Together with Professor Robin Teigland at Chalmers, exploring how boards can appropriately ensure the companies use the opportunities of AI and at same time monitor & govern appropriately incl ethics, 4Boards.ai. We have been selected as one of hundred most interesting current Swedish research projects and will present at the Royal Academy of Engineering Sciences IVA Research2Business event on March 20, and as only one of three to present on stage.
Together with Professor Mats Magnusson at KTH, exploring how boards impact & interact with strategy and continuous innovation, and how to evaluate this with BoardClic. Some of these insights we recently shared at Danish Board Network event, and we will be sharing a version at Innov8rs Paris is April, Europes largest conference on Intrepreneur Leadership.
And together with Professor Stanislav Shekshnia INSEAD, we are evaluating the current and needed Chairman practices to support our companies & boards going forward.
I am also proud to work with several organisations where this critical topic is not only key for the organisations themselves, but is also part of the value propositions to our customers. As FCG which helps organisations establish needed policies, processes and tools to monitor risk and compliance. As Zalaris who supports organisations in the development of their talent processes and the supporting technology. As Aino Health helping to facilitate the process between leaders and the employees, with a platform solution, to ensure higher presence, engagement and productivity. As Tieto working to reshape both businesses & societies as well as its own operations, and to responsibly augment humans for value creation. As TrusTrace, which as a startup engage the SupplyChain in the Fashion Industry through Blockchain, to facilitate transparency.
This recent article at Strategy & Business, also points to need of board to become more engaged and to focus on corporate culture to prevent the next scandal.
Lets continue to share good practices in this area and let us know if any of our mentioned organisations or events can support also your efforts.