Article response: Does your board have the STEM skills it needs?

May 21, 2020

 

According to a recent AICD article, only 3% of boards have the skills needed to face a technological future. Read the full article here.

It is pleasing to see and be part of a conversation that calls out the Board Room STEM issue. The notion that Australians are great adopters but not great leaders, is also a big call out. However, both comments down-play technology which we find puzzling.

Today, new business models don’t happen without technology, and new technology emerges because new business models are required.  One cannot exist without the other.  The era of business predicated on linear progression is fast becoming a yesterday company.  Growth and survival require network, not linear thinking. Technology is the vehicle that engineers need to make sense of their calculations; people with data-gathering background are good at math.

Boards need to be actively looking for people who work with future facing technology, who are using technology to drive new business models or who are disrupting industry sectors.  Phoning a friend just won’t cut it.