How to ensure that the board and the management team are aligned with a long-term strategic perspective during a crisis?

During these challenging times, we all need to question ourselves on how we do things. In recent months, many articles have been published and are talking about the role of the board during the pandemic. A lot of them are discussing the key roles members should focus on, notably risk management, as well as supporting and listening to the leadership team. Another key role is to remind management to keep strategic longer-term planning on the forefront of the agenda, and not only focus on short term crisis related actions.  

The issue discussed here is that in crisis mode, boards tend to mostly rely on senior members’ experience, and less so, on feedback from the organization or from less experienced executives.

In order for the board to play their role of making sure the company envisions the future, we believe that the management team needs to think differently about how they are engaging and what they are sharing with their boards. In a context of disruptive technologies and rapid change, to succeed in the upcoming months and years, it is important for both senior leaders and board members to have open dialogue and surround themselves with new perspectives and diverse points of view. This can help bring forward and anticipate key trends, such as vast changes in consumption, ways of working, or new innovative products and services caterging to clients. We must consider that as we gain experience, it’s common to rely on it. However, we are all suject to biases, blind spots and lenses which shape our perception of things. Additionnally, as we gain experience, we tend to loose our curiousity and thus possibly loose sight of changes on the horizon. 

As with any of the changes brought about by the pandemic, most were already on the horizon and the pandemic just accelerated them. Seeing around the corner requires engaging and connecting with a diverse set of talent within your organization to properly feed the board with critical context. As such, to spark your curiousity and stay connected to the important trends that will impact your business, we would highly recommend the following:

1.     Reverse mentoring with emerging talent – Set up meetings where you ask questions and listen;  

2.     Virtual chats with employees – representing all levels, regions, roles and backgrouds, especially those interacting with your customers and consumers; and

3.     Follow young representatives on social media.   

In summary, we must find ways to broaden our perspective and constantly challenge our beliefs, habits, and reflexes by seeking insights from others in inside and outside of our organisations. This includes board members and the management team, especially in a crisis.

 Bree Ranieri

Co-founder and Associate