Boards Need a New Approach to Technology – HBR.org Daily

The boards of too many publicly traded companies are downright timid when considering matters involving science and technology. More often than not, they focus on security and digitization—a defensive posture that fails to consider the bigger opportunities emerging from new materials, space science, and a better understanding of the genome—to name just a few areas of opportunity. It’s easy to be lulled into thinking that science does not matter to a nontech company. But that distinction isn’t quite so meaningful when it comes to capitalizing on the opportunities from technological change that is now ubiquitous, rapid, turbulent, and often emanating from increasingly unlikely corners.
The authors have observed firsthand an effective way to address this gap: the board technology committee. Drawing on the achievements of tech committees at AES, Johnson & Johnson, and Altria (companies for which the authors are or have been directors), they describe how these entities can advance the interests of organizations and offer advice on how to set one up.
Too often the boards of publicly traded companies are downright timid about science and technology.
Most boards lack the expertise, the experience, and the organizational structure to identify developments in science and technology that can benefit their organizations.
Board-level technology committees—working closely with senior management—can be powerful forces for exploration, innovation, and growth.
The boards of too many publicly traded companies are downright timid when considering matters involving science and technology. More often than not they focus on security and digitization—a defensive posture that overlooks the bigger opportunities emerging from new materials, space science, and a better understanding of the genome, to name just a few areas. It’s easy to be lulled into thinking that science doesn’t matter to a nontech company. But that distinction isn’t quite so meaningful when it comes to capitalizing on the technological change that is now ubiquitous, rapid, turbulent, and often emerging from increasingly unlikely corners.


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