Guatemala, June 2025. In a business environment marked by technological, geopolitical, and social uncertainty, boards of directors must evolve from supervisory bodies into true drivers of strategic foresight. Having a clear strategy, adequate resources, and competent leadership is essential. Furthermore, according to Camelia Ilie Cardoza, Rector of INCAE Business School, it is solid, forward-looking, and values-based governance that articulates and strengthens all these elements to achieve sustainable competitiveness.

During his lecture “High-Performance Boards of Directors”, Ilie argued that governance can no longer focus solely on compliance or correcting the past, but must focus on anticipating possible futures and building long-term institutional trust.

“Boards are not meant to resolve the past, but to anticipate the future. They must become guardians of vision, sustainability, and long-term strategic thinking,” he stated.

Based on this premise, he shared five key points for boards of directors to strengthen their impact in the region:

1. Governance models adapted to the context

Although models such as the European (dual), American (unitary), or Japanese (based on consensus and collaboration among related companies—keiretsu) exist, the important thing is not to replicate them, but to adapt them to the organizational context. Effective governance balances agility, risk management, and legitimacy with all stakeholders.

2. High-performance composition and dynamics

The effectiveness of a board depends not only on the qualifications of its members, but also on their actual ability to contribute value. This implies diversity of thought, independence of judgment, contextual sensitivity, and a willingness to ask difficult questions.

The relationship between the CEO and the chairman of the board should be based on trust, mutual respect, and well-defined roles: supervising, guiding, and constructively questioning.

 

3. Continuous performance evaluation

The best boards implement systematic evaluation processes for the CEO, the board as a collective body, and each of its members. Alternating internal and external evaluations allows for the identification of blind spots, strengthens a culture of continuous improvement, and professionalizes decision-making.

4. Future-oriented agendas

A high-performance agenda isn't solely about financial reports. It must focus on the issues that shape the organization's direction: strategy, innovation, leadership succession, sustainability, and emerging risks such as cybersecurity and technological disruption. "What's on the agenda reveals what truly matters," Ilie reminded us.

5. Forward-looking governance and collective intellectual capital

Ilie emphasized the need to incorporate strategic committees (innovation, sustainability, risk), as well as Advisory Boards that integrate knowledge from disciplines such as geopolitics, neuroscience, artificial intelligence and organizational psychology.

This approach allows the development of what he defined as "Board Intelligence": the ability to think better together, beyond individual knowledge.

“Being a good ancestor is not just a moral ideal, it’s a profound sustainability strategy. Boards must ask themselves: What kind of society are we helping to build? What decisions today honor the well-being of those who will be alive 100 years from now?”

With this vision, INCAE reaffirms its commitment to strengthening Latin American leadership with a global perspective, developing institutional capacities to anticipate, innovate and generate impact with intergenerational responsibility.

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About INCAE

Founded in 1964, INCAE Business School is a leading institution for executive education in Latin America. Throughout its history, it has graduated thousands of business and social leaders committed to the region's development. INCAE is among the world's best business schools, holding multiple international accreditations such as AACSB, AMBA, and EQUIS, and is ranked in the most prestigious rankings, including: #1 business school in Latin America according to the Financial Times, #1 MBA in Latin America by the QS Global MBA Rankings 2024, and a top 10 global ranking for sustainability by the Corporate Knights Better World MBA Ranking. With master's programs, executive education, and a strong commitment to applied research, INCAE drives change in the region by promoting ethical leadership, sustainability, and inclusion.

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Ciny Monzón | ciny@prevolucion.com | +502 5995 4556