Sally Abou Melhem <email@example.com> , Office of Communications
Organized by the Rami Makhzoumi Corporate Governance Initiative at AUB, a conference on Corporate Governance in the Age of Digital Disruption took place at the Suliman S. Olayan School of Business (OSB). The conference discussed the challenges and opportunities that digitalization poses to good governance, and looked into potential solutions to future challenges and opportunities in this field. Panelists explored the topics of “digitalization and corporate governance” and “challenges faced by the board room in the digital era.”
Digitalization has caused evident disruption in the business world, which has tremendously affected the way business is done. Digital trends such as big data analytics, cloud computing, mobile commerce, smartphone penetration, and social media are now embedded in the core of businesses around the world. These changes have posed diverse challenges on companies that aim to get ahead in the market, in terms of creating market confidence, as well as building corporate credibility and business integrity. On the other hand, companies failing to keep up with the developments in digitalization would be left in a vulnerable position, as digital trends are now considered critical for a company to have a competitive advantage. For businesses, technology is now considered a major external change agent in comparison with economic and market conditions. According to the 2012 global CEO study conducted by IBM, 71 percent of CEOs regard technology as the primary factor influencing their organization’s future.
“Put digital disruption and governance into the same sentence and you have any number of important issues and topics to discuss,” said Dean of OSB Steve Harvey, commenting on the event. “This conference lived up to that expectation with great panelists and speakers, revealing issues that deserve our attention,” Harvey continued