In this episode, Dorrit welcomes Niels Nordby Kjær, a seasoned director in the financial sector with extensive experience in risk management and board dynamics. Dorrit & Neils reminisce about their early days as colleagues at Privatbanken in Denmark and delve into Niels' impressive career, including his roles at Nordea and Saxo Bank. Dorrit & Neils discuss the significance of psychological safety, trust, and the challenges boards face in today's complex environment, emphasizing the need for awareness of surface-level and underlying dynamics in effective decision-making. 

KEY TAKEAWAYS

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  Importance of Trust in the Boardroom: Trust is essential for effective board dynamics. It allows board members to delegate responsibilities to committees and fosters open dialogue, which is crucial for making informed decisions.

  
  


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  Psychological Safety: Creating a psychologically safe environment in the boardroom enhances decision-making quality and encourages critical thinking.

  
  


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  Understanding Board Responsibilities: Familiarity with the four key responsibilities of a board—ensuring the company's best interests, overseeing strategy, managing succession planning, and maintaining compliance—is vital for effective governance.

  
  


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  Navigating Complexity and Scrutiny: Boards face increasing pressure and complexity in their roles. Effectively prioritizing tasks is crucial to managing the limited time available for discussions and decision-making.

  
  


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  Awareness of Underlying Dynamics: Being attuned to the dynamics beneath the surface in board interactions is critical. Listening to one's instincts and reflecting on the emotional climate can lead to better judgment and more effective actions in the boardroom.

  
  

BEST MOMENTS

"I think psychological safety in the boardroom is very essential because it directly affects the quality of decision-making and the integrity of the governance."

"It's really important to do small things like that and big things like... change the name tags to help people get to know each other."

"Without the trust, you are not able to delegate to committees to drive more into specific areas."

"I think it was a fantastic learning experience to see that this common purpose... helped everyone to do what they could to move it forward."

"The awareness and the competences in this area will make it high performing or stall the boards."

TO CONNECT WITH NIELS

https://www.linkedin.com/in/niels-nordby-kj%C3%A6r-02432830?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app

TO CONNECT WITH YOUR HOST

https://www.linkedin.com/in/dorrit-kromann-29b4041/ 

HOST BIO

Dorrit Kromann uses her competent network to provide solutions to real problems in boards. Dorrit is experienced in organisational development, going from turnarounds in hospitals to the growth of IT start-ups. From the board experience, Dorrit has used the psychodynamic organisational psychology to onboard, understand, and solve any board challenge, going from how to recruit new members to business challenges to conflicts of interest.

PODCAST DESCRIPTION

Have you ever been stuck in a challenge in a board meeting? Have you ever felt unheard in a board meeting? Have you ever thought that the business and strategy go in the wrong direction? Have you ever had a suspicion that something was wrong in the company?

Board Dynamics podcast will take you through some cases showing these challenges, analyse the cases, and tell you what to do in such situations.