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Amrop Embracing Technology is About Innovation - 160105

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Svetlana Roshchupkina

The document discusses how embracing technology and innovation is important for businesses to stay successful in a fast-changing digital world. It notes that technology opens doors to new business models and opportunities, while also posing cyber security risks that all boardrooms must consider. Several quotes emphasize that technology is a business issue that requires mature skills, and that boards need to be aware of how technology impacts their entire company, not just specific departments. Examples are given of traditionally insular companies like Coal India now seeking new technologies to transform and double production. Challenger banks are also altering business platforms using technology more efficiently. While cyber security risks loom large, boards have taken little action to gain necessary expertise to prepare for the future.

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Embracing Technology is About Innovation: 1 BOARDS Embracing Technology is About Innovation
Embracing Technology is About Innovation: 2 Embracing Technology is About Innovation In a fast-changing digital world, the successful businesses will be those that demonstrate adaptability and embrace innovation. Technology opens the door to new business models from manufacturing to marketing functions, while cyber security and the risks around it loom large as major concerns for every boardroom.
Embracing Technology is About Innovation: 3 The issue is not just about having one person on the board, or one committee, its more about the whole board being aware by one way or another - that technology is not (merely) a department in their company.
Embracing Technology is About Innovation: 4 The deployment of technology in a company is a business issue, and it requires mature skills.
Embracing Technology is About Innovation: 5 Even the hitherto insular mining group Coal India which has a near monopoly producing 80% of Indias coal is thinking differently for a technology-enabled world. Under its new Chairman Suthirtha Bhattacharya, it is looking for new global partners as it seeks cutting-edge technologies to double production.
Embracing Technology is About Innovation: 6 New entrants in the banking sector by way of the so-called challenger banks are paving the way to using technology more efficiently, and altering the platform on which to do the best business.
Embracing Technology is About Innovation: 7 While boardrooms are anxious about the prospects for cyber security, they have taken very little action to identify the expertise needed to best prepare themselves for the future.
Embracing Technology is About Innovation: 8 Further Reading and Resources Author: Dina Medland
Embracing Technology is About Innovation: 9 About Amrop www.amrop.com/offices
Embracing Technology is About Innovation: 10

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Amrop Embracing Technology is About Innovation - 160105

  • 1. Embracing Technology is About Innovation: 1 BOARDS Embracing Technology is About Innovation
  • 2. Embracing Technology is About Innovation: 2 Embracing Technology is About Innovation In a fast-changing digital world, the successful businesses will be those that demonstrate adaptability and embrace innovation. Technology opens the door to new business models from manufacturing to marketing functions, while cyber security and the risks around it loom large as major concerns for every boardroom.
  • 3. Embracing Technology is About Innovation: 3 The issue is not just about having one person on the board, or one committee, its more about the whole board being aware by one way or another - that technology is not (merely) a department in their company.
  • 4. Embracing Technology is About Innovation: 4 The deployment of technology in a company is a business issue, and it requires mature skills.
  • 5. Embracing Technology is About Innovation: 5 Even the hitherto insular mining group Coal India which has a near monopoly producing 80% of Indias coal is thinking differently for a technology-enabled world. Under its new Chairman Suthirtha Bhattacharya, it is looking for new global partners as it seeks cutting-edge technologies to double production.
  • 6. Embracing Technology is About Innovation: 6 New entrants in the banking sector by way of the so-called challenger banks are paving the way to using technology more efficiently, and altering the platform on which to do the best business.
  • 7. Embracing Technology is About Innovation: 7 While boardrooms are anxious about the prospects for cyber security, they have taken very little action to identify the expertise needed to best prepare themselves for the future.
  • 8. Embracing Technology is About Innovation: 8 Further Reading and Resources Author: Dina Medland
  • 9. Embracing Technology is About Innovation: 9 About Amrop www.amrop.com/offices
  • 10. Embracing Technology is About Innovation: 10