In Flensby & Partners, we work daily with delivering management power to top management and board positions in Scandinavia. In this context, we receive more and more inquiries from CEOs who want to supplement their existing career with directorships of various kinds. On this basis, we invited 130 current CEOs and Chairmen, to Hotel Crowne Plaza in Copenhagen the 5th April, with the aim to give them an insight into the trends that we, in connection with our work, experience in the boardrooms.
For the session we had the pleasure of strong contributions from Ole Dahl Ingvardsen – CEO Flensby & Partners A/S, Torben Ballegaard Sørensen - Board of Directors in several companies, John Dueholm – Board Advisor Flensby & Partners, Astrid Simonsen Joos – CEO Philips Lighting Nordic and Member of the Board Dansk Industri and Bente Overgaard – Partner Flensby & Partners.
Today's presentations offered great insight into a number of new trends which are summarized here:
- There is currently a significant professionalisation of the board work
- New and greater demands are placed to the board members, which results in members – especially the Chairman – typically taking fewer directorships
- More and more board members are professionally recruited
- The composition of the board depends on the company ownership
- The composition of the Board's expertise is crucial to the company's future success
- Digitalisation is a big theme for many companies, boards and management, but there is some uncertainty as to how to approach the opportunities and challenges
- Digitalisation is very much about direction, people, organization and roles
As a natural continuation of the above trends Bente Overgaard held a final presentation on "Digital resources" where she gave her input on how management can work with this evaluation in their businesses.
"Digital resources" correlates to six critical points related to the company and the digitalisation agenda: 1) Strategy & direction 2) Organization, 3) Culture, 4) Roles & Profiles, 5) The company's engineering and data room and 6) Development & investment. It tells all about an organization's ability to create customer and business value in a digitized world. The point is that all companies and organizations can relate to digitalisation in a life where digitalisation more than anything else is about direction, leadership, people and organization. Greater clarity and one's perception of the company's digital starting point at management level – and Board of Directors and CEO – creates the optimum framework to set the direction for the future of the company.
Know your starting point
An analysis of "Digital resources" gives the company important information concerning the organization's strengths and base in order to ensure the company's future success. The importance of knowing your starting point is underlined by the enormous speed the digital conversion demands of modern businesses. To ensure both survival and progress no company can free themselves from relating to and participate in digitalisation. For the same reason, it is always appropriate for a company to conduct an analysis of "Digital resources", but particularly when shifting ownership, Chairman, CEO or senior management.
Rounding up the day
After interesting points following the last presentation it was time for tapas, accompanied by constructive and inspiring conversations among those present.
Would you like to know more about Board trends or ”Digital resources”?
Please feel free to contact:
Ole Dahl Ingvardsen, CEO, Flensby & Partners A/S
Bente Overgaard, Partner Denmark, Flensby & Partners A/S