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2024 ASEAN Board Trends | Refocus on Board Effectiveness
The past months have been a challenging one for businesses not just across ASEAN but globally, with a harsher VUCA business landscape, the impending financial crisis and geopolitical tussles among many other disruptions. As key corporate governance leaders, boards’ primary roles are steering the corporate strategy, oversight over management, ensuring fair return for shareholders while overseeing the overall risk and opportunities and the wider stakeholders’ interests.
The 2024 ASEAN Board Trends report re-emphasizes the need for boards to take stock of their board effectiveness – looking inward before looking outwards. The responses gave rise to the alarming questions as to whether the board has the insight and foresight to assess and steer their organisation’s business model, governance, talents, dynamics, and culture to position itself for the future.