Boards of the future: steering organisations to thrive

Grant Thornton

This report, published by the consultancy Grant Thornton, identifies the most urgent priorities for board members and shareholders in companies throughout the world, to ensure diversity in the composition of their boards and to encourage the introduction of digital developments.

The document explores the skills that will be required in the boardroom by 2025 and what action needs to be taken now to get them there. It pinpoints four areas in particular on which board members ought to be focusing in the next 10 years, if they are to support their company’s growth prospects; strategy, sustainability, digital economy expertise, and identification and prevention of fraud.

In order for boards to ensure that they are sufficiently equipped to anticipate the challenges and opportunities of the future, and know how to react to them appropriately, the report makes the following recommendations:

  • Boost diversity in the composition of boards: map the challenges you think you will face over the next 10 years and whether a Board exists that can deal with them.
  • Adopt a digital strategy to anticipate possible digital frauds that may occur, and analyse what challenges and digital opportunities the institution should adopt.
  • Define the route to the top in a straightforward way, by using a skills matrix, succession plans, skills programme and mentoring by board members.