Innovation and digitalisation are identified as top boardroom priorities with companies acknowledging that these skill sets are required in the boardroom composition, said Institute of Corporate Directors Malaysia (ICDM) chairman Tan Sri Zarinah Anwar.
Citing the Asean ICDM 2022 Board Trends survey, she said the accelerating pace of technological advancement and rising concerns over the environment require intense scrutiny of the value structure of companies in the decision-making process.
“This requires boards to lean into the uncertainty and the complexity and develop the courage to take advantage of change, which is precisely the insights that underlie the theme of this year’s summit, ‘The B Factor (Bold + Brave) Boards,” she said in her welcoming remarks at International Directors Summit 2022 virtually today.
The second edition of the International Directors Summit, ICDM’s flagship summit, is a regional platform that brings together more than 30 renowned global speakers and thinkers, to discuss emerging trends and threats affecting boards and organisations.
The summit aims to unleash the “brave and the bold” in leaders and organisations to help them navigate the complex changes in an interconnected world.
She said boards need to embody both of these qualities and equip themselves with the capability to make the necessary changes to achieve growth and build resilience in today’s volatile environment.
“That includes re-imagining a workforce and talent proposition in a post-COVID-19 vibrant world and making adjustments to our long-standing board practices.
“Strategies and guidance are essential to creating a sense of shared purpose and a sense of urgency,” she added.
She said boards need to seize opportunities through a transformation – that means disruptions to the business offer new solutions that will yield a positive impact, and drive a necessary change to build and protect businesses. – Bernama
