advanced data analytics and technology to enable continuous improvement? Do management and the board have access to regular reports of intelligence regarding changes in competitors, customers, suppliers, new technologies, regulatory requirements and other relevant external forces? Is the velocity of the organization’s decision-making in responding to market trends sufficient to drive improvements to customer-facing processes at market speed? Jim DeLoach, a founding Protiviti managing director, has over 35 years of experience in advising boards and C-suite executives on a variety of matters, including the evaluation of responses to government mandates, shareholder demands and changing markets in a cost-effective and sustainable manner. He assists companies in integrating risk and risk management with strategy setting and performance management. Jim has been appointed to the NACD Directorship 100 list from 2012 to 2018.
culture? Is this dialogue supported with appropriate innovation- related metrics that summarize the results the strategy is delivering, actual versus expected return on investment, and the effectiveness of the company’s innovation culture and capabilities? Are senior leaders and the thinking and disrupting long- standing ways of working that are obstacles to improving the customer experience? Is the company recognizing market opportunities and emerging risks at speed and addressing them with timely adjustments to its strategy, infrastructure and front-line processes? board satisfied that their organization is capable of challenging conventional Does the organization have a deep understanding of digital business concepts, building digital ecosystems and the potential of digital hyperscaling platforms that facilitate growth? Is the company driving innovation in its industry and investing in data,
transforms customer experiences and disrupts long-established value chains. Armed with a deep understanding of emerging and maturing technologies and the ability to apply them in imaginative ways to drive disruptive innovation, directors and management must continuously rethink the organization’s business model and its role in the value chain. Questions for executive management and the board of directors Following are some suggested questions that senior executives and their boards may consider, based on the risks inherent in the organization’s operations: Are the CEO and board aligned in setting the tone for speed through actions and words that emphasize the importance of staying close to the customer, keeping an eye on relevant market trends, organizing for speed and embracing change? Do the C-suite and board agendas allocate sufficient time to discussing the company’s innovation strategy and
Governance & Risk
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