A recent article by Anya Schiffrin "Confessions of a Davos
Wife" (see here) on Reuter's website sparked my interest.
Since the site seem to have censured my comment on the blog
( here goes freedom of expression... Note from author: I
stand corrected: after this article was published on
Competia's site, and picked up in a number of pinboards,
Reuters finally allowed my comments on the blog. Thanks
Reuters ! ), I thought I'd publish it here. I can use also
the excuse to introduce what will go on in Davos at the
World Economic Forum Annual Meeting 2012 for me this year.
Klaus Schwab from the World Economic Forum, opened one of
the WEF's meeting last month by saying *" Complexity,
velocity of global issues means decision makers are always
behind"*. From heads of state to corporate decision makers,
everyone is struggling with the same challenge: too much -
too fast. There is one profession however who has studied
carefully decision making, and systematically trained
thousands of decision makers to allow them to make decisions
in minutes, often in very uncertain conditions : *the
airline and airplane industry*. Managers and executives
could learn from them.
In 2009, the Deloitte Ethics and Workplace Survey explored
attitudes about social networking and pointed out the
significance of social media for board of directors.* 58
percent of executives felt that the reputational risk
associated with social networking should be a board room
issue*. Yet, only 17 percent of executives said that they
currently had programs in place to monitor and mitigate
reputational risks that may arise with social network usage.
Boards have since largely left it to management to figure
out its social media strategy. When informally asked in a
boardroom, Competia found that *less than 5% of directors*
admit having ever used and participated in social media.
Mistrust is widespread and the issue of privacy is of utmost
concern. The implications of social media for the board far
outreach reputation risk. As the use of social media is
rapidly spreading and challenging every single company
business model and strategy, it is time for directors to
understand the implications for corporate governance.
Last winter, I was approached by one of the major investors
in Skype[http://www.skype.com], who thought that the
research I have done on strategic blindspots would be very
valuable for the new team leading Skype's strategy. I got
very excited by the opportunity- not only do I use Skype,
but I believe the company has succeeded in touching its
customers in a rare and intimate way...