Directors Examine the Implications of Innovation and Demographic Shifts on Corporate Strategy
NACD Directorship 2020 Views Market Forces Through a Boardroom Lens
The innovation mandate and implications of demographic shifts on the boardroom #NACD2020 Tweet
PRNewswire, WASHINGTON, DC (May 7, 2015) — The National Association of Corporate Directors (NACD), the advocate for the profession of directorship, held its latest NACD Directorship 2020 symposium in Atlanta where corporate directors examined the impact of demographic shifts on corporate strategy and the need for boards to enable innovation in response to competitive disruption.
More than 100 directors joined experts on innovation and demographics to discuss the ways in which boards can identify and prepare for emerging trends in these areas. Scott Steinberg, futurist and CEO of Techsavvy Global, discussed the board’s role in establishing a culture that empowers employees to embrace innovation. Paul Taylor, former executive vice president of the Pew Research Center, described how shifts in generations and demographics are reshaping our social and economic systems.
“Boards must enable a culture of prudent risk-taking,” said John Backus, managing partner of New Atlantic Ventures and a director of the National Venture Capital Association, the Center for Public Policy Innovation, Invincea, Spotflux Apptap, BrandYourself, and Pokitdok. “Senior leadership should be rewarded for taking smart risks, even if they result in failure.”
Shareowner activism, emerging technologies, and regulatory activity, coupled with a rapidly changing global environment, will create an even more challenging role for directors over the next decade. In partnership with Broadridge Financial, KPMG, Marsh & McLennan Cos., and PwC, the NACD Directorship 2020 initiative studies the global forces that are expected to influence corporate strategy over the long term and enables directors to draw on the components of effective board leadership to help lead their management teams not only in anticipating the associated risks but also in capitalizing on the opportunities such disruptive forces can create.
“It’s critical that directors continue to assess the implications for their businesses of the rising age of the global population and, at the other end of the spectrum, what they can learn from the millennial generation, representing customers, employees, and leaders in every field,” said Jeannie Diefenderfer, director of MRV Communications and the Ms. Foundation for Women. “Kudos to NACD for bringing these issues into focus for the director community.”
The conversation about disruptive forces and their impacts on corporate strategy will resume on July 17 at the next NACD Directorship 2020 forum in Seattle and continue on September 26–29 at the Global Board Leaders’ Summit in Washington, DC.
About NACD
The National Association of Corporate Directors (NACD) is the advocate for the profession of directorship and is focused on advancing exemplary board leadership. Informed by more than 35 years of experience, NACD delivers insights and resources that more than 16,000 corporate director members rely on to make sound strategic decisions and confidently confront complex business challenges. NACD provides world-class director education programs, national peer-exchange forums, and proprietary research to promote director professionalism, ultimately enhancing the economic sustainability of the corporate enterprise and bolstering stakeholder confidence. Fostering collaboration among directors, investors, and governance stakeholders, NACD is shaping the future of board leadership. To learn more about NACD, visit www.NACDonline.org. To become an NACD member, contact Kelly Dodd at [email protected] or 202-380-1891.
Media Contact:
Henry Stoever
Chief Marketing Officer
202-775-0509
[email protected]
###