Governing Under High Uncertainty: Oppurtunities for Emerging Market Boards
- Impact Boards EM
- 5 days ago
- 1 min read
Updated: 2 days ago
INSEAD Corporate Governance Centre, in collaboration with Boston Consulting Group (BCG) and Heidrick & Struggles, January 2026
The report sheds light on how boards in emerging markets are strengthening governance, resilience and decision-making amid escalating complexity. Drawing insights from over 100 senior directors from emerging markets worldwide, it highlights how uncertainty today differs from traditional risk.
The compounding effect of global and local pressures – such as geopolitical tensions, trade disruptions and technological shifts – amplifies domestic vulnerabilities and places added strain on governance systems that are still maturing. Yet, amid this turbulence, there is momentum for meaningful progress.
Boards are:
Reinforcing foundational governance disciplines – from role clarity and risk oversight to scenario planning.
Prioritising trust, culture and collective behaviour as essential “soft levers” that sustain cohesion and calm during volatile moments.
Taking on an expanding role as ecosystem stewards – engaging regulators, policymakers and industry peers to strengthen governance standards beyond the firm.
"By anchoring decisions in purpose and values, while remaining open to diverse perspectives, boards can build the resilience needed to thrive in unpredictable environments", commented Annet Aris, Senior Affiliate Professor of Strategy and Academic Director of the INSEAD Corporate Governance Centre.
The report concludes with a practical framework designed to help boards assess their readiness for high uncertainty across three dimensions:
Hard levers of structure and process,
Soft levers of trust and behaviour, and
Ecosystem stewardship beyond the firm.
Together, these elements provide a roadmap for boards seeking to govern more effectively in an increasingly complex and uncertain world.
View the full pdf report below.
