In this article by Neil McGregor in The Institute of Directors NZ focuses on the evolving role of governance in the face of global disruption and uncertainty.
-
Context of Disruption: Neil begins by outlining how recent global events—such as the COVID-19 pandemic, geopolitical tensions, climate change, and digital transformation—have drastically changed the landscape in which boards and directors operate.
-
Board Accountability and Leadership: He emphasises the growing accountability of boards to lead not just in strategy and performance, but also in sustainability, social responsibility, and ethical governance. There’s a call for boards to be courageous and proactive rather than reactive.
-
Resilience and Adaptability: McGregor stresses the importance of resilience, adaptability, and innovation in governance. Boards need to rethink traditional practices and become more agile to respond effectively to rapid changes.
-
Long-term Thinking: He advocates for long-term thinking that balances profit with purpose. This includes integrating environmental, social, and governance (ESG) principles into core decision-making.
-
Director Capabilities: The article also discusses the skill sets and mindsets needed for modern directors—such as cultural intelligence, technological awareness, and systems thinking.
-
New Zealand’s Role: Finally, McGregor highlights New Zealand’s opportunity to lead by example, leveraging its values of fairness, integrity, and environmental stewardship to shape a distinctive approach to governance on the global stage.
Overall, the article is a call to action for directors to rise to the challenge of a changing world by embracing transformative leadership and governance that is principled, strategic, and future-focused.
Read Full article here
