Strategic short-sightedness as illustrated by recent companies failures imply rethinking the abilities of the board of directors. Foresight allows the company to maximize future freedom of action. To do so the board of directors should enrich it’s conversations (in latin conversatio means “change together”) to bring the ability to be adapted to new scenarios. To improve strategic foresight, tomate® has three products complementary each other, our value offer:
The focus of a board of directors reveals the maturity of its Corporate Governance and therefore is a way of recognizing the sustainability of the company and its value. Just as it is important how the board works, it is also what issues focuses its energies. The board of directors requires a flexible way to cover all relevant topics from compliance to those that are central to the business. Construction of the Twelve-Month Agenda, does not establish the sequence of themes during the year, which is a matter to be decided by the board with the Management; only reveals the order of importance, urgency, competence and commitment.
In tomate® we have carried out several dozens of board of directors’ self evaluation surveys, whose purpose is to allow the board of directors, anonymously and confidentially, to assess maturity in three main aspects: coordination, focus, and architecture of the information.
These four dimensions are inquired through brief questions which analyze the team’s work, and not the individual work of its members. Questions are answered by each board member on the web, which takes no more than fifteen minutes and, should support be needed, it is available for those board members the possibility of accessing personalized help desk 24/7.
Surveyed issues are listed below:
Seeks to focus the analysis in the way the board of directors anticipates the specific needs of its company, as well as the mechanisms used to reach consensus.
This dimension seeks to understand whether the board of directors as a team prioritizes those aspects or goals inherent to them.
Architecture of the Information
The survey investigates how the board of directors and the Management design in advance the kind of information, its timing and the way in which it is presented; at the same time, the alignment of this structure with the Vision of the company and the strategy designed by the board of directors with the purpose of achieving it.
Finalmente, la encuesta indaga respecto de la cultura de cumplimiento de las normas, políticas y estilos que la empresa ha establecido como marco de operación ética.
Rapid technology advancement has created opportunities and risks. There is critical digital ignorance by many boards that is creating an inability to direct and oversee Management. tomate® and Edgy offer to advice creating an action plan as part of a broader ERM (enterprise risk management) which includes: cyber risks, digital policies and social media, among other issues.