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Boards can help their companies blend profit and purpose seamlessly into their strategies by focusing first on their own purpose, composition, and processes.
The way teams operate and deliver can make or break a company’s performance as well as set the tone for its culture. Leaders who keep their teams motivated, with all eyes set on a shared purpose, have a better chance of thriving in the long term.
As boards add new directors, they are increasingly struggling to find the right balance among their current structures and maintaining a healthy board culture. The right first step is assessing whether the basic structure is still fit for purpose.
Interviews with the chairs of the largest public companies listed in the United Kingdom, predominantly FTSE 100, highlight how boards are meeting some perennial challenges in today’s unprecedented circumstances.
Most companies today are more tech enabled than they were even six months ago. Boards have an important role to play in ensuring that companies can benefit from those gains—and avoid new strategic risks—as they reset to focus on long-term performance.
Leaders can take four steps to build a purpose-driven organization that leads to better business outcomes.
Even before the COVID-19 pandemic, boards were facing a daunting mix of challenges that highlighted weaknesses in many traditional practices. To be fit for the future, boards must focus on their purpose, composition, and culture.
Boards that do well and thrive through a crisis do three key things.
Most boards don’t take the time to step back and rigorously review their own performance. Doing so will benefit not only the board but the organization as well.
What board members should keep in mind now to prepare their companies for the post-crisis world.
What’s most often missing when leaders develop and implement new strategies? Mind-set change at every level of the organization. A few fundamental tactics can help leaders create lasting mind-set shifts to accelerate growth.
Companies that excel at simplicity throughout their organizations continuously and repeatedly seek to kill complexity in four key areas: strategy, operating model, culture, and activity.
When preparing for volatility, private equity firms should not forget to assess whether their portfolio company leadership teams have the right capabilities to weather the storm.