As overseers of company strategy, the board of directors plays an important role in their company’s digital transformation. Boards need to understand what this transformation entails and how the company plans to execute it successfully.
Digital transformation is often a critical component of a company’s strategy, which the board oversees. So boards will want to take time during their strategic discussions to talk about what it means to go digital. Is the board ready? Is the company? Many companies are discovering that they’re not fully prepared for the next generation of technology. In fact, executives’ confidence in their ability to capitalize on digital change is at an all-time low.
As companies embrace new technologies to deliver their strategy, they will need to invest in education and training to bridge the digital skills gap. Directors need to get educated about digital transformation and engage with emerging technologies in order to weigh in on what makes sense for the company and its plans.
Improve your own Digital IQ