The Global Voice of Governance Professionals

Virtual meetings have been beneficial and provided a major business continuity plan for the corporate world amidst the COVID-19 pandemic. It is envisaged that after the lockdown, the need to continue to obey the directives of health authorities by practising social distancing, regular hand washing, use of face masks and sanitizers, in order to prevent infection, would make both conveners and participants at meetings to still have a preference for virtual meetings over the physical meetings. Consequently, virtual meeting is set to become an entrenched practice.

Virtual meetings have been beneficial and provided a major business continuity plan for the corporate world amidst the COVID-19 pandemic. It is envisaged that after the lockdown, the need to continue to obey the directives of health authorities by practising social distancing, regular hand washing, use of face masks and sanitizers, in order to prevent infection, would make both conveners and participants at meetings to still have a preference for virtual meetings over the physical meetings. Consequently, virtual meeting is set to become an entrenched practice.

While the ongoing coronavirus pandemic continues to necessitate that companies undertake short-term actions in support of their financial stability and resiliency, with the passage of time, both boards and investors are increasingly focused on potential longer term impacts of the crisis and the long-term implications of current day decision-making. Based on extensive research, this publication suggests tangible ways in which the board can foster a long-term orientation, with a focus is on properly balancing short-term and long-term issues and an emphasis on framing short-term issues in the context of the company's long-term performance.