Board Talk​

“The most important human skills we need, to make the most of generative AI, are curiosity, imagination and the ability to ask good, thoughtful questions. The tech itself is very easy to use, and does the leg work for you. Board members have great expertise in asking good questions and can see round the corner, giving them a natural advantage to make the most of generative AI.“

“AI is transforming jobs and sectors across the economy, so Boards need to define a clear strategy for integrating it at all levels within the company. The Board needs to be able to identify the opportunities offered by AI that align with the company’s corporate goals. And because generative AI is a real game-changer, they need to adapt their company’s corporate strategy to the new reality.“

“It is important that the Board does not equate generative AI with AI more generally or with IT but recognises it as a crucial part of the puzzle in terms of digital transformation. The focus should not be on a specific technology but rather on establishing how a company can better meet the needs of its market. The fact that we have the ability to do something using generative AI does not mean that it is sensible to do so or that it is a good investment for the company.”

“Success starts with having sustainability as a regular item on the agenda for Board meetings. If the Board sets realistic and ambitious goals and gives management a clear mandate to implement them, it is well on the way to succeeding. I think it is better to focus on just a few goals and to make genuine and substantial progress in those areas.”

“It is strategically important for the Board to have both experience and expertise in the area of sustainability. Board members need the right level of expertise to be able to challenge management on sustainability strategy and goals and to monitor achievement of those goals.”

“AI is just like any other specialist area within the company: not every Board member has to be a specialist in the digital area, any more than they require specialist expertise in finance, risk management or human resources. But giving Board members basic knowledge and empowering them, coupled with some specialist input, is the best recipe for long-term success in tackling the challenges posed by AI.”

“It’s important that managing cyber risk or digital risk isn’t seen as just an IT problem but is recognised as a company-wide issue to be tackled as part of the company’s corporate strategy. Major strategic decisions almost always have an impact on the company’s cyber footprint.”

“All companies are at risk, regardless of size and sector. However, many SMEs lack the financial and human resources to take effective cyber security measures, so their expertise and infrastructure is limited or even non-existent.”

“We’ve been living with ‘cyber’ for at least 40 years, yet for many Boards, it is uncharted territory compared to other operational risks. What I find, though, is that the fear factor and taboo tend to die away if the problems are discussed in a safe space with like-minded people at Board and/or management level.”

"Throughout our footprint, guests enjoy luxury hospitality, while experiencing living the Mantis mantra: Man and Nature Together Is Sustainable."

“I believe the Board’s long-term objective is to create value for the shareholders. If this objective is properly understood, it should encompass all stakeholders and all other major long-term dimensions.”

“Interestingly, companies are sometimes punished by shareholder representatives or the media for voluntarily being more transparent about remuneration issues than is required by law or for being more transparent than peer companies. Companies therefore need to find the right level of transparency.”

“Sustainable is the New Profitable. PURPOSE is the new Product. The Future is not something that just happens to us – it’s something we CREATE.”

“The speed, unpredictability and far-reaching consequences of geopolitical developments are not going to decrease in the coming years, so Boards will need to take both tactical and strategically far-reaching decisions.”

“As a company’s strategic leadership body, the Board of Directors is responsible for actively tracking geopolitical trends, identifying the opportunities and risks these represent for the company and the sector, and drawing conclusions for how the company should respond.”

“Facing the new situation and its implications, there are two distinct approaches that the Swiss economy could adopt: either focus on safe and geopolitically close economic partners such as the EU (which is already its most important economic partner) or increase the number and origin of partners. Diversification is a critical asset when it comes to limiting the impact of any shock.”

“The board shapes the company’s culture, so it needs to create conditions in which employees understand what the company stands for. All employees should feel appreciated, so there needs to be scope for ideas to be fed in from the bottom up and to be heard.”

“Strategy and innovation must be regularly on the agenda, at least at the time of the board’s retreat. But in fact, it is a matter of a constant daily attitude, of corporate culture!”

“Innovation management is a role for senior management. The board should maintain a broad focus on innovation as part of strategy development, raise fundamental issues and identify ‘black holes’ in the strategy presented to it.”