Another article, this time from the Harvard Business Review, points out that only 6% of directors overseeing the world's biggest banks have any technology experience. In a world where technology is a core strategic issue for all companies, boards need to be able to deal with technology confidently and decisively.
Indeed, one of the most successful venture capital firms, Andreessen Horowitz, backers of Facebook, Twitter, and many others, says that "software is eating the world". Meaning that software is disrupting traditional business models and traditional businesses and the winners in industry after industry are the companies that embrace software to reinvent themselves. Not all industries are experiencing this change as rapidly, but even old line businesses like taxis have been famously disrupted by companies like Uber. Just because an industry is staid, doesn't mean it is protected. In fact, just the opposite is likely true. And this change is coming just as fast in the non-profit world as in the for profit world.
To deal with this reality, boards need to understand the technology landscape and be comfortable making strategic decisions in light of that landscape. CEOs and Executive Directors need to navigate these treacherous waters as well, and also instill confidence in their boards that they have a steady hand on the tiller. One way to shift the conversation for your board on technology is to move to an online board portal, instead of relying on paper board packets or emailed attachments. Moving your board's operations to the Cloud will help your board think about the Cloud in all aspects of your business. At iBoardrooms, we can help you do just that. Give us a try free for thirty days.