Companies are having to pivot to meet technology, workforce, and consumer disruption.
WomenCorporateDirectors Foundation (WCD) has released a report entitled “What directors need to know about new marketplaces and business models”, revealing how boards are capitalising on global shifts to meet markets where they are today.
“When a tech giant like Google enters the home-delivery business, boards recognize that their agility and ability to innovate are critical to their company’s very survival,” says Susan Stautberg, chairman and CEO of WCD.
WCD Quebec Chapter Chair Estelle Metayer, director of France’s Ubisoft Entertainment SA and Canada’s BRP, describes the current challenge as the “complexity matrix”: the web of new technologies, new customer needs, new regulations, and new business channels that boards must tackle to stay competitive.
“The very definitions of what a competitor is and what a collaborator is are changing every day,” says Nancy Calderon, a director of WCD and partner with KPMG. “As directors, we have to be more open to how these definitions drive business models and where and how we can meet market demand and talent demand.”