BOARDROOMS HAVE LITTLE IDEA OF WHAT THEIR CUSTOMERS THINK OR WANT ACCORDING TO NEW STUDY

One in five directors believes that their company’s board has “little idea” of what their customers think or want, a study into the changing face of British boardrooms has revealed.

At a time when directors are facing heavier workloads and increasing scrutiny from investors, many feel that their boards are becoming too focused on stakeholders and regulators, leaving little time to focus on customers.

The research by Ridgeway Partners in conjunction with The Times, found that the majority of directors felt that boards had only a “fairly accurate” view of their customers.

Executive directors were the least confident in their boards’ ability to identify with their customers, with 19 per cent “feeling their board has little idea of their customers’ views”.