Governance Surveys
From the COVID-19 pandemic to current economic uncertainty, boards are tested not only by what happens but also by how they respond.
What exactly is a “disruptor”? And what can boards learn from previous disruptive periods?
In the May episode of the BoardVisionTM podcast, “Making Room for Disruption,” NACD advisor Susan Paley spoke with Karen Galivan about how boards and the companies they serve are handling disruption amid increased geopolitical uncertainty, including tariff impacts. Galivan, a tax partner and board member at RSM US, which is a financial supporter of NACD, shared her insights and recommendations for directors navigating choppy waters.
Below are a few of the key takeaways from the episode.
Company values should be a guiding light in crises. Boards and management should rely on the company’s values to be successful during periods of disruption. When facing challenges, directors’ decisions and actions should be grounded in these values to reinforce the organization’s identity while supporting all stakeholders.
Effective boards reflect, learn, and adapt. Disruption is a recurring feature of the modern business landscape. Boards that allocate time for reflection with management after a crisis help both parties understand what can be done better, and what should be done going forward, to keep pace with change. This also fosters a relationship of trust and partnership between the board and management.
Innovation must be a continuous process. Amid economic or other pressures, companies should not pull back on innovation. Instead, boards should encourage internal stakeholders to innovate and continually improve their processes, positioning the company for future growth after the period of disruption passes.
Listen to the full episode below and tell us the unique way your board is handling disruption at editors@nacdonline.org. The BoardVision podcast is available on Apple Podcasts, Spotify, YouTube, and the NACD website.