The roles and responsibilities of boards and governance teams are changing every day.
Recent events have highlighted the need for boards to ensure they set culture and compliance expectations from the top down, but the fast pace of change is also adding innovation to the list of topics at board and committee meetings.
As we navigate what many are calling the 4th industrial revolution many organisations are trying to come to terms with how they can transform to meet increasing competition and innovation.
The non-profit sector in Australia is no different. With increasing pressure from the wider purpose driven business movement and the need to become more sustainable, non-profits need to adopt a growth mindset to readapt in an effort to stay competitive.
Although we hear experts talking about innovation, do we know what it means when overlayed onto board responsibilities. A recent AICD report indicated that Australian boardrooms have low innovation and digital literacy levels.
An overarching challenge is then to ensure boards and governance teams can oversee, support and understand the needs of their organisation to explore innovative services, methods and technological advancements that will not only increase their ability to fulfill their purpose, but increase sustainability.
In November Leading for Purpose is teaming up with Ben Pecotich and Poppy Rouse from Dynamic4 to explore the question of ‘What is the role of the board in innovation?