The COVID-19 pandemic has accelerated technological and digital adaptation in companies so that they would have normally achieved in about a six-years-time. Since the entire company has now to adopt a more technological- and digital-oriented approach and, since the changes begin from the highest ranks of medium-big sized companies, let us look at their transformation by focusing on the number one decision-makers: the board of directors.
Once, the top executive positions in a firm were roles with a high position and a rigid hierarchy. Now, the demand for high technological and digital skills are growing – even when it comes to specific functional roles with precise position specifications or the so-called C-suite. The world was going through the growth for these skills’ demand even before the notorious pandemic by making these skills a must-have in the current panorama. The winning strategy is often a technique based on data-driven experiments led by a proficient management team. This team has to be trained to carry out a breath of fresh air. Thus, the C-suite must be prepared for innovative, revolutionary ways to rethink and manage their work by learning new digital and technological skills originated from the responsibilities that they must add to their roles to be efficient.
For instance, Chief Marketing Officers and Chief Technology Officers become key roles in strategic planning founded on data analytics. The latter two are not anymore only in charge of improving customer experience (whether technological or not) or internal and external relations. Besides that, nowadays, they are also expected to create technology- and digitally friendly work culture for everyone, out and inside the company. Moreover, besides monitoring the overall financial situation, the Chief financial officer now has to understand whether and in which technological or digital strategy and/or employee(s) to invest. People in high-ranking chief roles have to consider adding extra values to their responsibilities to make their company a thriving business in this technological and digital era.
However, the main focus goes on the board of directors since they are the ones to hire CEOs and other directors. Besides choosing the right candidates for future demands, they are expected to advise company strategy, which should be more and more digital- and technology-oriented. While advising on new technological investments, the board should manage not only their own but also the training for their own and new directors in technological and innovative subjects. ASOMI College of Sciences has the right solution for employee training in an exclusively innovative and not the only digital environment. ACS courses are suitable for people who are already working, such as board directors, or filling in other crucial positions. The board of directors plays a crucial role in modernizing a company technologically and digitally, especially when it comes to training employees.
The current thriving strategy is all about technology and digitalization, and the companies must adapt their entire mindset for a thriving strategy. The chief roles have to change, and thus, they have to reconsider the management of their work. Therefore, the board of directors, overseeing decision-making connected to learning and hiring, should organize themselves and the company to progress updates that will help the company make a difference.