DOES THE BOARD NEED THE RESULTS OF A DIGITAL HEALTH ASSESSMENT?
In essence, these assessments seek to provide answers to two crucial questions: 1) Are individual directors equipped with the confidence and expertise to provide insightful and accurate recommendations on digital strategies, initiatives, and talent? 2) Does the company possess the necessary capabilities to compete effectively in the digital world, and if not, what are the gaps, and how can they be addressed?
Typically, these assessments should span between six to eight weeks and involve interviewing individual directors, CEO, and other C-Suite leaders. Additionally, they entail gathering external information about the industry and projecting various digital strategies that competitors could utilize to disrupt the status quo.
Of particular importance is the review of digital and technology talent. Starting with the Chief Information Officer and Chief Digital Officer and their respective managers, it is essential to obtain a clear understanding of their backgrounds, approaches to technology or digital strategy, and overall subject matter expertise. This knowledge is critical for assessing the value of their input to board discussions.
In many cases, existing talent, particularly the CIO of small organizations, may not have the requisite background to engage in board-level strategy conversations, yet they may be the only source of technology lead strategy advice. This represents a weakness that a more diverse and digitally-aware board can help overcome, avoiding blind spots that could negatively impact the organization's digital transformation efforts.
Recent Articles
Popular Articles
