In the dynamic evolution of modern retail, shopping malls have ceased to be simple commercial spaces and have become complex ecosystems that integrate experience, community, entertainment, and technology. However, one of the most critical often underestimated components in this system is the board of directors.
The board of a mall not only serves an administrative role: it sets the course, defines the vision, and establishes the strategy executed by managers. Hence, its formation, open-mindedness, and understanding of the environment play a decisive role in the success or stagnation of these spaces.
Beyond bricks and square meters
For years, decisions in many malls focused on occupancy and immediate profitability. But today’s retail demands much more: understanding consumer behavior, adapting to new technologies, innovating in formats, and being resilient in the face of global changes. To achieve this, a board must be more than a group of owners; it should be a strategic team, up-to-date, and future-oriented.
The importance of training and openness
Boards that are formed and open to the world—participating in international fairs, listening to experts, exploring hybrid models, analyzing new metrics—become true allies of the manager, not just supervisors. This openness allows knowledge to flow both ways, enabling the manager to have not only a clear direction but also the support to execute bold and disruptive strategies.
A board that does not train or update itself becomes a barrier. A board that learns, questions, and proposes becomes a catalyst for innovation.
Liberal and strategic thinking
The key is adopting a liberal mindset—not ideological, but in terms of flexibility, adaptation, and the ability to read the environment. Combining traditional profiles with professionals in areas like innovation, technology, sustainability, marketing, or consumer behavior can lead to much richer, diverse, and more useful boards.
It’s not just about defending patrimonial interests; it’s about creating collective value, understanding that the success of the mall benefits everyone, and that in this changing environment, strategy must be dynamic, informed, and brave.
The new challenge for boards
In conclusion, the board of directors should be seen as the strategic brain of the mall, and for this reason, they need to train themselves, be inspired, and connect with the new realities of the world. Only then will managers have the necessary fuel to successfully execute their vision and keep malls as relevant and vibrant spaces within Colombia’s urban and commercial fabric.
Source: Miguel Pardo. Miembro de Juntas Directivas Centros Comerciales para Mall & Retail.
https://www.mallyretail.com/actualidad/mall-y-retail-boletin-579-noticia-8