Enter the Boardroom with Nurole
64. Baroness Dambisa Moyo - Boardroom surprises: black swans, dual-track strategising and marketing yourself as an unconventional board member
Apr 3, 2024
Baroness Dambisa Moyo, a board member for Chevron and Conde Nast and a New York Times bestselling author, shares her insights on boardroom dynamics with Nurole CEO Oliver Cummings. She discusses the challenges of uncertainty in governance and how effective boards adapt to risks. Moyo emphasizes the importance of diverse backgrounds in board roles and introduces her dual-track approach to strategy. She also reflects on lessons learned from rapid CEO turnovers and the importance of ethical leadership during tumultuous times.
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Quick takeaways
- Baroness Dambisa Moyo emphasizes the importance of boards remaining adaptable and prepared for unexpected challenges that disrupt strategic direction and decision-making.
- She advocates for the creation of dedicated ethics committees within boards to proactively address ethical standards and mitigate risks associated with ethical violations.
Deep dives
Navigating Surprises in the Boardroom
Surprises are a significant challenge in the boardroom, affecting both decision-making and organizational stability. Dr. Dambisa Mayo highlights that various unexpected events, such as a CEO's death or broader crises like the pandemic, can disrupt financial forecasts and test the organization's culture. For example, during the early days of the COVID-19 pandemic, companies faced urgent questions about employee health, revenue expectations, and operational capabilities. Such surprises emphasize the need for boards to remain adaptable and prepared for unforeseen challenges that can alter their strategic landscape.
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