This article highlights the often-overlooked importance of science and technology for non-tech companies. It argues that traditional boards lack the expertise to identify opportunities in emerging fields, advocating for the creation of dedicated Board Technology Committees. Drawing on successful examples from AES, Johnson & Johnson, and Altria, the authors provide guidance on establishing such committees and maximizing their impact.
The boards of too many publicly traded companies are downright timid when considering matters involving science and technology. More often than not, they focus on security and digitization—a defensive posture that fails to consider the bigger opportunities emerging from new materials, space science, and a better understanding of the genome—to name just a few areas of opportunity. It’s easy to be lulled into thinking that science does not matter to a nontech company.
The authors have observed firsthand an effective way to address this gap: the board technology committee. Drawing on the achievements of tech committees at AES, Johnson & Johnson, and Altria , they describe how these entities can advance the interests of organizations and offer advice on how to set one up.Most boards lack the expertise, the experience, and the organizational structure to identify developments in science and technology that can benefit their organizations.
Board Committees Science Technology Innovation Opportunities
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