Driving transformation change

High performing boards have the oversight of business strategy as a priority.

Interview with Elizabeth Bryan AM FAICD, Chairman, Caltex Australia –
Strategy and business transformation
Australian institute of Company Directors, August 2014

High performing boards have the oversight of business strategy as a priority. The capacity of a board and management to drive strategic change enables a business to stay competitive and continue to grow.

In this video, Elizabeth Bryan AM FAICD, Chairman of Caltex Australia, shares her experience leading Caltex through a time of major transition. She considers that central to the success of change is being alert to a problem early, understanding precisely what your company is about and what matters, and ensuring that the management team are motivated to drive change. Having a cohesive board that works well together is important.

An article in the Company Director Magazine (September 2014), “Transforming for growth”, also considers the role of boards during times of change. It outlines five ways in which boards can guide organisational transformation. In particular, successful transformation requires a firm vision, clear direction and alignment across the organisation.