The Importance of a Board in Times of Growth and Uncertainty 

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As a company grows, it becomes more complex and faces periods of uncertainty more often. In this context, the creation of a Board of Directors or Advisory Board can be a valuable strategy for many businesses. Based on my experience, I share some insights that can help you understand the advantages of this structure.

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The Harvard Business Review reported that companies with a board tend to have a greater chance of survival and prosperity. However, for this to happen, directors need to take on more proactive and high-impact roles. This change has been observed over the years, especially in times of VUCA (volatility, uncertainty, complexity and ambiguity), where it is crucial to discuss governance, create innovation agendas, reflect deeply on the company's checks and balances and, above all, be actively involved in building results.

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Institutions are increasingly aware of this need. What was once not a priority is now essential, and the demand for bolder, less conservative and technically prepared boards is on the rise. Boards are therefore being made up of greater diversity, integrating members with complementary skills.

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Diversity and Complementarity in Councils

I like to say that you'll hardly find two executives with identical skills in the world. Each person is unique and contributes their own experiences and perspectives. The "divide and conquer" premise applies here: the more diverse your board, the better. A Deloitte study on the corporate governance of privately-held companies highlighted the diversity of members as one of the main benefits.

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The Role of Advisory Councils

Advisory boards also deserve special attention. They can be the right bet for improving corporate governance, as they are lighter, more dynamic and more adaptable. They generally provide an excellent experience for the organizations that have them. It's always important to remember that each business is unique and will require different decisions.

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Selection of Board Members

For the advice of these experts to be extremely beneficial, choose people who share the same vision and values, who are open to innovation, who can think and structure long-term goals, who act correctly and in accordance with the organizational culture and who generate value for your business. These advisors should be at the CEO's side in the search for better solutions, not above him just demanding results.

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The implementation of a Board of Directors or Advisory Board can transform the way a company faces its challenges and opportunities, especially in times of uncertainty and rapid growth. The diversity and complementarity of board members, together with a dynamic and innovative approach, can provide more effective governance and a sustainable path to success for the organization.

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