Six Essential Questions Chair and Stakeholders should be asking their Board in 2021
Updated: Dec 30, 2021
Chair and Shareholders - If you think your Board is ready for 2021 ask these few questions:
· Does any Member understand alternative payment technology and gateways, micropayments and CryptoCurrency?
This translates into currency of knowledge of new payment systems that may offer significant market leadership or sourcing advantage - competitive advantage
· Can any Member pull apart, understand and review a CyberSecurity report and ask the right questions to understand the risks - if the business is doing everything possible to protect against huge fines, and loss of reputation if compromised?
This is a new governance parameter that goes beyond the experience of many Board Members -cyber risk mitigation
· How many Members understand the digital marketplace and routes to customer?
This also translates into currency of knowledge on new gen, next gen customer appetites for your products and services, and how to meet their expectations – early market leadership and dominance. Hot new topic should be around online customer experience and support. It’s never been so easy to change brand than right now sitting at home with a phone in your hand!
· Does your Board diversity reflect the diversity of your customer base?
Brand sustainability is at high risk and customer loyalty will fail due to changing consumer patterns, if you don’t understand your customers passions, whims, lifestyle and user experience then you will lose them to those who do.
· How many of your members are confident in todays markets and dare to challenge the status quo, to inspire and support innovation and creativity in your executives?
Innovation and creativity must be inspired top down in todays digital world to even contemplate market leadership and deliver shareholder value.
· At your last two Board meetings how many members asked questions of the executives on sustainability and optimisation of revenue, through secure digital transformation, into 2025? 2030?
We are really talking about market leadership and dominance and perceived vision, strategy translating to shareholder value - brand value.
"Stewart Manning was established in January 2020, as a collaborative global group of independent consultants, advisors and Non-Executive Directors, to support and assist enterprises and government agencies with forward thinking strategy, and leadership support, to ensure sustainability into what is guaranteed to be a very dynamic future.
Stewart Manning Collaboration is made up of a league of extraordinary, independent men and women with decades of experience in cyber security, digital transformation, digital marketing, telecommunications, innovation, project leadership and revenue generation.
A team with exceptional ability to identify the broken links in revenue optimisation and expose the less understood risks in digital transformation and cybersecurity due diligence.
Stewart Manning team believe we will not return to the 2019 world ever - it was fundamentally flawed and the positive side of the pandemic is that it was truly transformative and illuminating - personally and professionally - individual or enterprise.
Enterprises need to move forward beyond 2020/21 pandemic crisis with an updated and optimised strategy for growth, profitability and competitive strength. If you are to thrive - this plan is unlikely to look anything like the plan you had agreed upon in January 2020".