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OF SNAKES & LADDERS .. why you require a virtual board

Ravi Venkatesan's post in LinkedIn came as a breath of fresh air, just as I was also thinking on similar lines, but even so lacked the words to say it so clearly like him.

He says many things which for the purposes of this blog we will summarize and keep it short and try to get the essence of whatever it is that he is saying.

Like the personal world which are like a snakes & ladders game, for a company too, in 2023 it is similar and you can as easily step on a snake leading to disaster.

He gives the example of the three failed banks failing almost overnight. His remedy is that both as an institution & personally you get a set of trusted advisers

As a CEO, he got together a very good set of directors; similarly in his personal life there were seven people who he used to consult for the important decisions.

In his personal life it gave him a better understanding of opportunities. He did not necessarily take their advice but became more aware & made better decisions.

He asks 'Who's your virtual board'? And says that they may be unaware of their being a part of your virtual board & of course there are no board meetings either.

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