The study says that most of the timber in the Middle East passed oversight and succeeded
A unique study that examines how Regional Boards Drive Action value, unveils a new generation of dynamic boards in looking for leads in line with the long-term value creation engines of the Creative Deal Dance Deal Creding Engine of long-term value.
It found that 94 percent of respondents described their board processes as effective, while pointing to poor information quality (41 percent) and rigid decision-making structures (38 percent) as key barriers to making strong decisions.
Boards from strategic value drivers
These results were part of the Intauural Middle East version of the Flagship Board Value Index, a study conducted by Board Intelligence, board technology and the Firm. It aims to track the value that the board contributes to its organizations, identify key challenges they face, and uncover opportunities to improve their contribution to long-term success.
The Board Value Index is based on information from Board Directors from companies with more than $50 million (US $66.6 million) in revenue in the Middle East.
Almost half of the directors (48 percent) surveyed, view their boards as important tools in building value, emphasizing broad confidence in their ability to manage risk and unlocking organizational performance. The survey also highlights a region of competent, efficient, and well-aligned boards that are burdened with information and process challenges.
Commenting on the opening report, Pippa CEO, CEO of Board Intelligence, said that we are privileged to present our first index of Board of Confidence.
“The challenge now is to make them confident in looking forward. In a world of rapid change, the most important boards are those that can change the perception of visible growth.”
Challenges
The discovery sets the stage for leaders to turn to on-board practices in order to be driven forward – and driven well.
Directors will need to sharpen the way they use their time, the quality of information that informs their decisions, and the expertise of their decision-making structures to improve foresight, risk adjustment, and positive response.
The board index reveals that most Middle Eastern boards still spend more time looking back than looking forward. Only 21 percent of directors report more time in meetings between reviewing past performance and planning for the future, while 41 percent spend more time looking back and forth. Only 38 percent of boards take a forward-looking approach.
This balance suggests that most boards have not yet prioritized forward-looking, strategic discussions. This presents a great opportunity to come up with how board time is used and embed a risk-focused agenda that focuses on strategy, innovation, and building long-term value.
In other findings…
- The survey also found international boards in the Middle East are more aligned with reform priorities, with 48 percent of boards describing themselves as “leading to an assessment” of the diversification agenda, and another 50 percent “engaging with donors”. This combination of 98 percent shows alignment, but highlights the opportunity for boards to take on a leadership, not just a participation, role.
- More than three-fifths of boards (60 percent) were reported to be “successfully” aligned, with evolving national agendas such as Saudi Vision 2030 and UAE Vision 2050. Another 37 percent said they were equally aligned.
- About three out of five (58 percent) directors in the Middle East say they have a strong ability to think about geopolitical demand, demonstrate risk adjustment and risk reporting, while another percent report moderation rather than simulation.
- Six percent of directors express high confidence in their ability to oversee and respond effectively to major cybersecurity or data breach requirements related to the Middle East Regrepatory and data requirements, noting that their boards have clear structures and defined response structures. The remaining 40 percent expressed moderate confidence.
- The majority of directors (61 percent) said that they have high confidence in the ability of their Board to manage relations with sovereigns or stakeholders in the government, with the shareholders of the government, joint issuance of the government and general discussion practices and general discussion practices. Rest 39 percent are somewhat confident, resulting in 100 percent net confidence levels across the board in the Middle East.
The intelligence of the board
These findings reveal a Bodweli culture defined by self-confidence, discipline and purpose – yet again from aligning expectations, this research is over.
Board Intelligence is trusted by 80,000 global leaders with the science of Board performance.
Bone’s Board Intelligence Index An index based on independent research conducted among over 300 board directors across the UK, US, Canada and the GCC. The Middle East Edition of the Index surveyed 100 board directors from across the GCC, including the United Arab Emirates, the Kingdom of Saudi Arabia, Baadi Arabia, Baadi, Qatar, Kuwait, and Oman.
