Majority of board members says companies are organised and prepared

The survey highlighted the importance of long-term strategy.

Majority or 88% of Singapore’s board members are confident in their board’s organisation and clarity of responsibilities despite the current situation, according to a research from the Singapore Institute of Directors (SID) in collaboration with Russell Reynolds Associates.

In addition, 63% identify their companies as “very resilient” or “reasonably resilient” in confronting negative outcomes brought by the pandemic.

However, the report noted that 59% of the board’s time is spent dealing with the pandemic’s current impact, highlighting that they should also focus on allotting time to reexamine business strategies aside from just addressing a company’s immediate needs.

The issue of board overreach is also often discussed during the handling of a crisis as each board needs to find its own new balance with management on how to increase its oversight to appropriate levels.

Meanwhile, the “ability to cope with complexity while exhibiting flexibility to make decisions” is ticked as the most important leadership trait for both boards and management, whilst the “ability to navigate board-management relationships well” is listed as a low priority.

Further, the report noted that employees emerged as the top priority with close to half of respondents expressing this sentiment, whilst environment was ranked last by more than 60%. Majority also agreed that their company has been able to effectively leverage technology and drive innovation in adapting to the current business environment.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Meanwhile, a record 583 non-landed homes sold for more than $2m each in the first nine months of the year.
The merger will create a flagship pan-Asia logistics and high-tech S-REIT.
It is followed closely by the identification app SingPass.
The index tracks REITs in the APAC region with higher dividend yields and positive environmental attributes.
Both companies will create training programs to support digital entrepreneurship and digital upskilling for Grab partners.
The deal is focused on M1’s network assets. 
This is a part of the Lion City's bid to become a global maritime knowledge and innovation hub.
Risks, however, are present with the financial troubles faced by the real estate sector in China. 
This comes as more Singaporeans turn to gaming in the midst of the pandemic. 
Retail sector has experienced the “most disruptions” with the changing restrictions.
The company was commended for being a global and regional sector leader in five categories.
The CEO designate said he aims to drive development in the company’s business units.   Gary Ho,  who played an instrumental role in the Initial Public Offering (IPO) of Nanofilm Technologies International Limited, has been appointed Chief Executive Officer of the company.
Analysts said strong leasing activity in Q3 played a factor.
Islandwide prime retail rents saw a dip by 0.6% q-o-q. 
Jardine Cycle & Carriage, Keppel Corporation and Frasers Logistics & Commercial showed the most growth.