Why board leadership requires lifelong learning
Due to the rapidly changing business environment, directors need to constantly learn and update their skills to make good strategic decisions
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Why board leadership
requires lifelong learningIn the realm of modern business, the role of directors stands as a cornerstone of strategic decision-making and corporate governance. With the landscape evolving at an unprecedented pace, industry leaders and experts emphasize the critical importance of director education in steering businesses towards sustainable growth and resilience. Insights from seasoned executives like Zeeshaan Pathan, Group MD and CEO of World Development Corporation, and Deepti Mehta, AGM-HR at Rudrabhishek Enterprises Limited, shed light on the imperative need for continuous learning and upskilling among board leaders. This article delves into their perspectives and industry insights, highlighting how director education fuels successful business leadership in an era defined by complexity, change, and innovation.
Talking to Bizz Buzz, Zeeshaan Pathan, Group MD and CEO, World Development Corporation and Leader at Director’s Institute said, “Directorship is a great position with greater responsibilities, especially when it comes to listed companies. Board Leaders become obsolete after a couple of months due to the changing dynamics in international corporate governance, ESG, technology, risk assessment and risk management requirements.”
The growth of any organisation is limited to the knowledge, experience and skill set of its leadership both at Board and Management levels. Learned directors only can lead the organisations to different heights during the VUCA times.
To ask the incisive questions, you need knowledge of those fields. Why is it becoming more important? When you are at senior levels, it is very difficult for someone to shake and wake you to educate about the lacking knowledge and skill sets. Dealing with the Millennials & Gen Z workforce, changing environment norms for corporations and global governance standards makes it a mandatory requirement for directors to continually upskill.
“Educated directors are better equipped to navigate this dynamic environment. Their exposure to cutting-edge research and best practices during their education fosters a mindset of innovation and adaptability,” Deepti Mehta, AGM-HR, Rudrabhishek Enterprises said.
They are more likely to embrace change, drive innovation initiatives, and position the company for long-term success in an ever-changing market. In conclusion, the importance of director education in achieving successful business leadership cannot be overstated. Educated directors bring a unique blend of strategic acumen, risk management expertise, ethical integrity, innovation mindset, and stakeholder engagement skills to the table. By investing in director education, companies can ensure that their leadership team is well-equipped to navigate the complexities of the modern business landscape and drive sustainable growth and prosperity for the organization and its stakeholders.
