24 January 2014
Report assists boards to succeed in an era of disruptive change
In an environment of ongoing, tumultuous change, organisations and their boards of directors must respond quickly and adeptly if they are to effectively address all the disruptive changes that surround and affect them, according to a new report by Deloitte’s Global Centre for Corporate Governance.
The Director’s Alert 2014 report, entitled Greater oversight, deeper insight: Boardroom strategies in an era of disruptive change, includes observations from governance specialists from Deloitte member firms around the globe on the opportunities and risks that boards and management must address in order to develop the right strategies within the context of today’s business environment.
Deloitte’s head of audit, Peter Gulliver says that the report focuses on ten key issues likely to face organisations and their boards of directors in 2014.
“The purpose is not to provide solutions to the issues discussed, as the best approach for any organisation will depend on its own particular circumstances. Instead, our objective is to assist directors in identifying the issues of importance to their organisations, and to help promote boardroom discussions around the strategies and options management has put forward to address current and future challenges, mitigate the risks and seize the opportunities that lie ahead,” Mr Gulliver says.
“The report includes a set of questions around each issue to facilitate boardroom discussion, and is supported with tools and resources so directors can dig deeper to broaden their understanding and improve their board’s effectiveness in dealing with them,” adds Mr Gulliver.
The ten issues that boards of directors may face in 2014 are:
• How innovative is
your organisation about innovating?
• Is your organisation at risk of being a cyber-crime victim?
• It’s about doing better, not more
• Volatility isn’t just economic when setting strategy
• Is your organisation aligned for growth?
• Developing the leaders of tomorrow
• The pace of regulatory change continues
• Integrated reporting – are you telling your story…the whole story?
• Could tax be dangerous to your brand’s health?
• Balancing diversity and expertise to maximise board effectiveness
To read or download Directors’ Alert 2014, go to http://www2.deloitte.com/global/en/pages/risk/articles/directors-alert-2014.html