Recently I had the privilege to be nominated to the New York Stock Exchange (NYSE) Board Services program, joining the candidate pool for potential board positions of NYSE companies.
During the NYSE Board Services candidate education event a few weeks ago, we (the participating candidates) did a couple of case studies related to board challenges.
In one case, the Risk Committee of a board identified an issue of the new CISO (Chief Information Security Officer) of a bank not being able to clearly communicate cyber security risks despite feedback over 3-4 quarters. The facilitator asked us to identify the issues related to this scenario.
Various participant tables (or case study teams) responded with thoughts such as communication issue, talent development issue, and particularly the issue of exposure to cyber security risks which was heightened as the bank is in the midst of making an acquisition requiring regulatory approvals.
After hearing from the various tables, the facilitator added one more issue, "what about missed opportunities for innovation in the past 3-4 quarters?"
Missed opportunities.
I guess we are much quicker to think of direct risks vs. missed opportunities.
Every time we choose to focus on something, we are choosing to de-focus on something else.
Every time we say Yes to something, we are also saying No to something else.
Every time we choose to solve a problem, we are choosing not to solve some other problems.
Don't lose sight of what we don't want to miss.
Equally, it's wise to miss some opportunities - if intentionally chosen, so we can focus on the right things.
Choose wisely. Be decisive. Stay focused.
