DIFFERENCE BETWEEN MANAGEMENT AND BOARD OF DIRECTORS Sample Clauses

DIFFERENCE BETWEEN MANAGEMENT AND BOARD OF DIRECTORS. A key question that was asked during the interviews was the difference between the management and board of directors in terms of IT knowledge. Eight out of ten companies state that the management is much more hands-on and tech-savvy than the board of directors. The management needs to know all the details of an IT-project before implementing it in the company. In contrast to the board of directors, the operational management uses IT daily. Most directors in Belgium have some specific knowledge about IT but not enough to propose a correct and advised solution. Company G explains that directors are IT users but certainly not experts. “In our board of directors there are people who are already more than 60 years old. They can work well with their iPad and laptop, but that does not mean that they are well educated in IT.” (Director of company G, personal communication, May 5, 2018) According to company B, being technically engineered is not the definition of a good director. The interviewee of company C explains that there is a large difference between the CIO and the board of directors but there is definitely an evolution going on in the board because of the growth in importance of IT. In addition, it is also the job of the CIO to know much more about IT than the board of directors. A board of directors must make important decisions in different domains of the company, not just IT. The director illustrates this by referring to another aspect. The board also has to make decisions about assets and liabilities management, which is also very technical. It is unlikely that every director knows all technical details about every aspect that is dealt with in the board of directors. By ensuring diversity in the board of directors, directors are able to keep a good overview of the company and to establish sufficient interaction with the management. Company I states the management is more tech-savvy because they have a closer view on the operations, the technology and the evolution of the company. In company F, the CIO and the CRO have also been recruited for their large expertise in IT. Today, IT managers must have a more extensive knowledge about IT and, above all, about the evolution of IT. “That is the evolution that I have experienced in those 15 years. Previously, you needed someone who had some herds in IT and who could lead the team. That's done. Now, you need people who know and feel everything about IT, the IT of yesterday, but especially the IT of tomorrow. F...
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