to 10 years

The board needs to evaluate and take a hard look at the entire organisation, whether it has the right business model and governance, talents, dynamics, and culture to position itself for the future.

Going Forward in 2022

Most organisations made reasonable efforts and took effective measures in mitigating the impact of the pandemic, and when asked what their outlook was for 2022, 44% responded that they expected to perform better or bounce back to prepandemic levels in 2022. In many ways, we see 2021 as an inflection point for corporate boardrooms – with increased oversight on financial health, governance, audit and risk management (64%) and enhanced oversight on crisis management and business continuity (55%) – these being significant changes made to the board to address the challenges posed by COVID-19. Going forward, boards will never be the same again. The efforts taken thus far will beget more actions in 2022 to ensure that companies go beyond coping with the pandemic to a ‘building back better’ position.