Fri 29 Apr 2016
News - ecoDa - European Directors are Ready for a Digitalized World?
Brussels, April 29 2016 - At its annual conference, the European Confederation of Directors’ Associations (ecoDa) questioned if European Directors are Ready for a Digitalized World?
Digitalization changes business models. There is a clear need for boards to respond with strategic decisions based on understanding of how digitalization affects their business model. Digitalization has also impacts on the way boards should be shaped.
ecoDa’s conference addressed those issues from different angles while pointing out concrete corporate examples.
At the conference, a report
from the business school INSEAD based on real perceptions and experiences of managers on the ground was issued. Apparently companies need to be clear what digital means for them. There is not one digital solution that fits all companies. On the contrary, it is a true opportunity to personalize the strategy of each organisation.
The survey reveals that a disconnect is emerging between board members and the digital changes underway in organisations. Another survey conducted by Digoshen confirmed that board members are often suffering from competence gap; they need insight in digital developments. As highlighted by Ludo Van der Heyden, INSEAD Chaired Professor of Corporate Governance, “a disconnect from digital is a disconnect from the business, and thus undermines the board’s competence in the governance sphere”.
Read the complete wrap-up report
of the conference