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The Innovation Ecosystem: changing perspectives, one podcast at a time

Join us, as we interview remarkable and thought-provoking guests about innovation, leadership and culture in the world of business. We do this by exposing you to multiple perspectives from the arenas of business, academia, science and sports. We bring you key insights and proven tools you can use straight away to enrich your ecosystem so you are better able to respond to change. Full show notes available at InnovationEcosystem.com
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Oct 24, 2017

In this episode, we are joined by Founder and Director of the IMD Global Board CenterProf. Didier Cossin. Didier is a global expert in governance, and in addition to his role at IMD has served as a consultant to the United Nations, the European Central Bank and multiple major corporations, including HSBC, Vodafone, Schlumberger and Coca-Cola. We speak about four pillars of good board governance: people, information, structure and  processes, and group dynamics.  

What Was Covered

  • Didier’s definition of board governance as “the art of decision making at the top of organizations”
  • The particular challenge that corporations with a long history face to transform and how this requires board leadership that “breaks the internal mould, breaks bureaucracy and opens up to the world”
  • What Didier has identified as the four pillars that constitute good governance – people, information, structure and processes and group dynamics - with good and bad examples of each

Key Takeaways and Learnings

  • A good assessment of board effectiveness is the extent to which it focuses on the past compared to the future – and that most boards spent too much time looking back
  • A board must ensure it receives the proper balance of internal and external information, of formal and informal information. That the very best board packs are “synthetic” – they use a variety of tools to synthesize the information that tracks the evolution of the key metrics
  • The criticality of the difficult task of organizing a board so its committees are well structured and focused on the issues of most importance to the organization
  • How a Chairman needs have the “art” of stimulating the right discussions, ensuring all views are considered and bringing these together – and the importance of this to enabling a functioning organization

Links and Resources Mentioned in this Podcast

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