In an era of rapid technological advancements, shifting regulatory landscapes, and evolving stakeholder expectations, traditional governance models may no longer suffice. It's time to rethink our approach and ensure that our governance practices are aligned with our organisation's unique needs and strategic goals.

My guest today is Dr Dean Blomson. Dean is a highly experienced strategy and transformation advisor, having previously served as a consulting partner with several global consulting firms. He has a strong interest in improving decision quality (and the probabilities of success), having been involved in leadership and governance over major capital commitments (M&A, capital projects, transformations), program disciplines and delivery.

Dean has a PhD in board governance of mergers and acquisitions, operates his own independent strategic advisory business, is a board director, and a part-time professor and regular teacher of executive MBAs.

Our conversation in this episode centres around the findings of a collaborative, thought-provoking research project in 2021 that Dean led and co-authored with EY’s Global Centre for Board Matters into Board Governance Models of the Future.

Specifically, we'll delve into the following questions:

• What is fit-for-purpose governance? How does it differ from the often adopted "governance by default"?
• What factors make governance "fit for purpose" or not? What are the key attributes of effective governance?
• How can we identify the signs that our governance practices are outdated or ineffective? What are the warning signals that should prompt us to take action?
• How can boards and organisations evolve their governance practices to be more fit for purpose? What are the best practices and strategies to adopt?
• What are the common pitfalls to avoid when modernizing governance? How can we navigate the challenges and ensure a successful transition?

By the end of this episode, you'll have a clear understanding of fit-for-purpose governance and be equipped to assess your Board's current practices. Join us as we explore how to build a strong foundation for long-term success.

Links Mentioned and Useful Resources

Connect with Dean on LinkedIn

EY’s Global Centre for Board Matters into Board Governance Models of the Future

Thinking outside the governance box to the board of the future: Exploring “fit-for-future-purpose” governance operating models (Corporate Board: Role, Duties & Composition, Volume 17, Issue 2, 2021, Virtus Press)

Risk Governance & Control: Financial Markets & Institutions / Volume 13, Issue 3, 2023, Virtus Press

For an overview of Dean’s fit-for-purpose governance model, I recommend watching the following webinars and downloading the slide resources.

Does governance need a reboot? Governance 4.0?

How to determine if your governance is fit for purpose

How to think differently about whole of business governance

Thanks to our sponsor BoardPro

Visit boardpro.com/boardshorts and use the promo code boardshorts – all one word, lowercase – to get a 30-day free trial AND 20% off the price of your first year on any plan.

As an aspiring board director looking to start or elevate your career, it’s critical for you to understand your Unique Value Proposition (UVP). It is the key to unlocking your potential and securing a coveted board seat.

In this episode, I break down the essential ingredients that make up a compelling UVP by examining seven key categories, including:

• Professional Expertise and Accomplishments
• Career Experience
• Network and Connections
• Board Experience
• Personal and Lived Experience
• Wealth
• Passions and Interests

I’ll help you to understand how to identify your unique strengths and tailor your UVP to resonate with specific boards. Remember, your UVP is a dynamic tool that can be adapted to different opportunities. By clearly articulating your value, you can position yourself as a valuable asset to any boardroom.

Useful Links

Developing your UVP [article]

Demonstrating Your UVP [article]

Mastering your UVP with Joanna Bloor [podcast]

In this episode, I dive deep into my preparation for a Board interview that landed me a coveted spot on the Stroke Foundation Board. From extensive research and note-taking to crafting a compelling story, I share my step-by-step process for securing Boardroom success.

Here are the highlights:

Preparation is Key:

• Conduct thorough research on the organisation, its Board members, and the specific role you're applying for.
• Create a detailed preparation pack, including notes on selection criteria, questions to ask, and relevant information.
• Use resources like the organisation's website, annual reports, and social media to gather information.

Tailor Your Application:

• Align your resume and cover letter with the specific requirements outlined in the candidate information pack.
• Highlight your relevant experiences and skills, emphasizing how they align with the organisation's goals.
• Use the language from the candidate information pack to demonstrate your understanding of the organisation.

Interview Tips:

• Prepare for a variety of questions, including those related to your experience, skills, and understanding of the organisation.
• Practice your answers and be prepared to provide specific examples.
• Be confident and articulate your value proposition.
• Ask thoughtful questions to demonstrate your interest and engagement.

Additional Tips:

• Consider the questions the panel members might ask and prepare accordingly.
• Be prepared to share information about yourself beyond your professional experience.
• Rely on your existing knowledge and experiences to guide your responses.

Are you tired of applying for Board positions without success? In this episode, I delve into the common reasons why you may be struggling to secure a board role and provide practical solutions to overcome these challenges.

Key Takeaways:

• Personal Missteps: Understand the common mistakes people make in their Board applications, interviews, and positioning.
• External Factors: Learn about the uncontrollable circumstances that can impact your Board journey, such as timing and competition.
• Actionable Strategies: Discover effective strategies to improve your chances of landing Board roles, including tailoring your applications, networking effectively, and understanding Board dynamics.

Whether you're a seasoned professional or just starting your Board journey, this episode offers valuable insights to help you achieve your Board goals.

Links Mentioned in this Episode

Sphere of Control, Influence, Concern

Weak/Generic Application
How to make your Board Resume Boardroom-Worthy | Ep. 94

Wrong Positioning
Developing your Unique Value Proposition
Demonstrating your Unique Value Proposition

Wrong Board
Setting and Calibrating your Board Goals | Ep. 49
How to Set a Board Goal

Flunked Interview
How to Prepare for a Board Interview
Questions to Ask at a Board Interview

Are you ready to unlock your board career potential? The time is now. Too often, aspiring board members get stuck in the 'getting started' phase. In this episode, I’m breaking down the barriers and providing actionable steps to launch your board journey.

Three steps to starting your Board career:

1. Understand the Commitment: Before joining a board, be clear about the responsibilities, time commitment, and personal risks involved. Know the legal and ethical obligations and if you're comfortable with the interpersonal dynamics of board work.
2. Set a Board Goal: Determine the type of board you want to join based on your experience, skills, and aspirations. Don't overthink this step, but focus on setting a direction for your board search.
3. Define Your Unique Value Proposition (UVP): Clearly articulate the value you can bring to a board. This will help you stand out as a competitive candidate and attract suitable opportunities.

Useful and Mentioned Links

Know what you’re getting into

Setting your Board Goal

Getting clear on your Unique Value Proposition

Course: Break into the Boardroom

Are you tired of falling short in your Board applications?

If you’re aspiring to join a Board but struggling to stand out in the competitive landscape, this episode is for you.

In this episode, I dive deep into the art of crafting a Board Resume that truly impresses. Discover simple yet effective strategies to make your application shine among a sea of candidates.

What I cover:

• Three questions to ask before writing your Board Resume.
• Two things everyone needs for a Board Resume that opens doors.
• The problems with Board Resume that’s stopping you from getting you onto a Board.
• What to do once you have a standout Board Resume.
• Two tips to ensure your resume actually gets written!

Board Talk Facebook Community

Understanding your Unique Value Proposition [article]

Setting and Calibrating your Board Goals [podcast]

Build Your Board Resume [course]

Delve into some of the proposed changes to the ASX Corporate Governance Principles and Recommendations. With a focus on gender balance, diversity, and material ESG risks, I offer a comprehensive analysis of the evolving landscape of corporate governance in Australia.

Key Takeaways:

• Gender Balance and Diversity: The proposed fifth edition introduces measurable objectives for gender diversity on boards, including a minimum of 40% female (or 40% male) representation. While this is a significant step forward, why is there a lack of discussion around a 50/50 gender split and the potential for pushback on ‘soft quotas’ from key stakeholders.
• Material ESG Risks: The recommendation to disclose material environmental and social risks has been expanded to include governance risks, along with the importance of considering these risks within the broader context of an organisation's business model and strategy.
• The Balancing Act: The episode explores the ongoing tension between global idealistic evolutions and Australian practicalities in corporate governance as a result of macroeconomic events and stakeholder submissions on the final shape of the principles.

This episode provides valuable insights into the current state of corporate governance in Australia and the potential implications of the proposed changes. Listeners will gain a better understanding of the challenges and opportunities facing boards and organisations as they navigate the evolving landscape – and ‘community expectations’ – of corporate governance.

Mentioned Links

Find all versions and available submissions of the ASX Corporate Governance Principles and Recommendations here: https://www.asx.com.au/about/regulation/asx-corporate-governance-council

BoardPro Article: Setting Up, Using, and Leveraging a Board Skills Matrix

Stroke Foundation: FAST