Executive Advisory: The Most Common Industry Background For New Directors is Technology / Telecommun | |
How Technology is changing the Business Scene Today, technology is continuously reshaping the competitive edge of business. Companies across every sector are confronted with the challenge of keeping up with technological changes to stay relevant. As such, companies are increasingly seeking directors who are knowledgeable about technology and can guide related strategic decisions. In the past few years, the most common industry background for new director appointments has been technology or telecommunications. In 2023, 18% of new directors at S&P 500 companies had a background in technology or telecommunications. Other helpful industry backgrounds include 14% of new directors in consumer goods and services, 10% in financial services and 10% in industrials/manufacturing. The tech industry is overflowing with innovation. Individuals with a background in technology bring a unique perspective into the boardroom, one focused on experimentation, adaptation and competitive performance. Such an asset is extremely valued as companies face ever-increasing pressure to evolve in fast-paced environments. Amidst new technology comes a rise in cybersecurity threats and data privacy concerns. Cybersecurity is a serious issue with many complexities and is left open to vulnerability if not properly assessed. Those who are most knowledgeable in technology can provide crucial insights into how to effectively manage these risks. If you are seeking a first-time board seat, it could be extremely advantageous to gain experience in technology. Focus on expanding industry knowledge and showing leadership in technology-driven initiatives. Building expertise in areas such as artificial intelligence, cybersecurity and data analytics, while staying informed about emerging technologies and industry trends, could set you well ahead of the curve. | |
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| Target State: Illinois Target City : Rock Island Last Update : Dec 07, 2024 5:05 AM Number of Views: 17 | Item Owner : Executive Advisory Inc. Contact Email: Contact Phone: (None) |
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