I've seen diverse opinions on Twitter about @Ripple joining #TheBoardChallenge

I used to believe that the best person should get the job. Period.

Gender, ethnicity, age, and geography were irrelevant as long as you were the best at the job.

That's changed

Let me explain:
There's one major problem with that. Who gets to decide who the best person is? That would most likely be the incumbent board members. Who in most cases have been selecting likeminded people for years, and have ended up with a fairly homogenous group of individuals.
Does such a boardroom have exposure to a wide enough range of perspectives to facilitate robust discussions of the issues that arise?
The composition of the board should reflect a sufficient mix of individuals with relevant knowledge, independence, competence, industry experience and #diversity of perspectives to generate effective challenge, discussion and objective decision-making.
A diverse board better understands its customer base and the environment that the business operates in. As a result of this enhanced understanding, the board is better placed to find and seize opportunities for #innovation, which ultimately creates #value for the business.
Boards should strive to create a balance between conformance and performance.

An optimally diverse board is primarily built on the foundation of a skills-based framework, taking into account the appropriate skills, expertise and experience necessary for proper functioning.
In other words, the first element of diversity — skill — should be the single largest consideration for the optimal board.
Once the appropriate skills, expertise and experience have been identified, other elements of #diversity should then be woven into the framework to allow for effective and robust decisionmaking and discussion in the boardroom.
The benefits of having a diverse board must be weighed up against the costs of doing so. Finding the appropriately skilled individuals who also match other desired elements of #diversity can be a difficult, time consuming and an expensive task.
This is especially true for boards operating in niche industries where highly specialised skills are required, causing the pool of potential board candidates to be reduced.
Although there are some challenges associated with having a diverse board, many of these may be viewed as temporary and will be far outweighed by the overall benefits of having a rich melting pot of diverse perspectives around the boardroom table.
Companies that fail to dip into the ever-deepening talent pool of diverse, well-educated and ambitious individuals run the risk of limiting #value creation, compromising #sustainability and undermining their long-term competitiveness.

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Martin Valk

Martin Valk Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @martincpvalk

9 Sep
Let us take a closer look at a level playing field in #Banking, and why regulatory clarity is so important.

The information used here comes directly from the @BIS_org

#Ripple #XRP #Crypto #Cryptocurrency
While crises often span borders, the pain is always domestic. At the political level, therefore, the temptation is for a narrow, national policy response that tends to make the playing field uneven - the very opposite of what we should be aspiring to.
When the Great Financial Crisis hit in 2007-09, for example, national approaches prevailed - notably in the form of ad hoc ring-fencing and recapitalisation of domestic banks by governments. Cross-border #Banking receded significantly.
Read 12 tweets
5 Jun
My take on the #XRP price explained.

@Kevin_Cage_ @WorkingMoney589 @thebearablebull @BakkupBradley @MoonLamboio @XrpMr @jungleincxrp @HamEggsnSam @digitalassetbuy @LoveForCrypto17 I would love to get your opinion and feedback on this:
So many people are fixated on the price of #XRP and don't understand why it is not rising. I am going to try and explain what I believe to be true in a way that can be understood by people who know absolutely nothing about finance.
Visualise the economy as a massive car engine, and #XRP as the oil that lubricates the whole system. Taking away all the friction and making sure everything runs smoothly.
Read 12 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!