7 Rules for Corporate Governance Success in the Social Age

In addition to all their existing roles, boards now have the added responsibility of shepherding their leaders and organizations into today’s digital world.

We live in a connected world in which more than one billion people use social media and another five billion use mobile devices to communicate, collaborate and do commerce. In business, social, mobile, and cloud technologies are enabling emerging leaders and investors to re-imagine entire industries, companies, products, and services, according to the Kleiner Perkins 2012 Internet Trends Report. This emerging reality is creating unprecedented risks and rewards for corporate directors and shareholders of existing enterprises.

The result: It is time for directors to think anew about the meaning of corporate governance in the social age. In addition to all their existing roles, boards now have the added responsibility of shepherding their leaders and organizations into today’s digital world. Boards that avoid this obligation risk having their organizations fall prey to the speed and might of today’s social networks as they seek corporate reform and accountability. The boards and executives of Best Buy, Kodak, Blockbuster, Hewlett Packard, and Susan G. Komen have all learned this reality the hard way. So did the 12 nations of the Arab Spring.

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