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1. What are boards most concerned with nowadays? Do we see convergence or divergence of views across sectors, geographical regions, industry groups, etc?
Two key roles of the board are providing guidance and oversight. Especially in a VUCA environment providing guidance requires a brad set of skills as well as experience and a continuous effort to understand increasing social, technological, and environmental trends and threats. In the recent years boards have come to better realize the importance of resilience of the value chain (sustainability of value creation) as opposed to optimization of value capture. Another key understanding has been the relevance and importance of the quality of public sector interventions as they have significant impacts on the VUCA environment.
2. Boards that take a compliance-oriented approach – how should they prevent the loss of opportunity to the strategic aspects faced by the organisation?
Compliance is only related to the oversight responsibility of the boards. Another key role is provision of guidance for value creation. The essence of strategy is choice and each choice comes with an opportunity cost. Therefore, the boards need to focus not only on compliance issues, but also allocate sufficient attention to strategy.
3. How can boards derive the highest value from a board assessment using AI?
A key role for the boards is to be able to identify various alternatives before decision making. AI can particularly be useful in option identification and option assessment process especially in complex and chaotic environments.
4. What are your views on diversity in terms of abilities, personalities, competencies of board members and the impact this bring to the organisation? What role can AI play in any of these?
I believe that a concerted effort to match the team skills with the challenges of the corporation is a good way to shape the boards. Working diligently on and publishing Board Skills Matrix would be an effective tool to be transparent and accountable in this manner. AI could be useful in identifying relevant experience and skills to bring about the diversity needed to address the challenges of the corporation.
– Dr. Yılmaz Argüden – Chairman, ARGE Consulting
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