Would your board invite Gordon Gekko, the iconic character Michael Douglas portrayed in the movie Wall Street, to share his evaluation of your company’s corporate purpose, business strategy, goals, sustainability plans and your board’s effectiveness? Probably not. However, some think it might take an oversized personality like Gekko’s to get a board to challenge traditional assumptions about how it approaches business, engagement and oversight.
And what would it take to get more of your board members to grapple with social media and emerging technologies on a daily basis, or to understand blockchain or crypto currencies enough to invest their own money or evaluate how these issues may affect the company? The point is, if your board is not challenging assumptions and engaging with new concepts that are changing our society then your directors may not be prepared for the level of engagement needed in today’s era of hyper-accountability.