Deloitte's specialists and independent board directors share their insights into the challenges facing today's board members and the strategies they can employ to overcome obstacles to success.
A volatile global business environment, new regulatory requirements, emerging disruptive technologies, increasing risks and greater public and stakeholder scrutiny—the demands and pressures on boards of directors continue to grow. In this environment, boards need to identify their essential activities—the ingredients for success—and strike an appropriate balance in terms of the time and effort they devote to each of them in order to help their organizations succeed.
This edition of the Directors' Alert: Ingredients for success: Striking the right balance, highlights some of key challenges and explores potential responses that can be taken to address some of the top issues likely to face boards in 2016:
- Responsible tax: Creating a sustainable tax strategy
- Innovation: Developing a resilient, innovative organizational culture
- Crisis management: Uncovering the unseen advantage in a crisis
- Cyber security: How cyber savvy is your organization?
- Shareholder engagement: Proactive engagement to build shareholder loyalty
- Strategy: Strategy in the face of disruption
- Talent: Building an irresistible work environment
- Corporate reporting: Is it time to bring corporate reporting into the 21st century?
Each topic was developed with input from Deloitte's specialists around the world. The discussion provides questions directors may wish to ask management and of themselves to further explore the issues within their own organizations. Also included are interviews with three independent board directors who provide their perspectives on the top issues facing their boards.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.