As per a Deloitte report, with the current growth rate of the percentage of board seats held by women, it could take us thirty years to achieve any gender parity.
Diversity and Inclusion have been on the radar for sustainable growth; however, we still need to really action and walk the talk of bringing honest diversity to the boardroom. Indeed, no one can deny the diversity that Women bring to the Boardroom.
Why should women be in leadership positions of growing organizations? And why should they be on the board of the organizations that are seeking to grow? Well, the answer lies in looking at the organizations that have a culture for growth and inclusive diversity built in their DNA. The average number of corporate board seats held by women on the 2018 Russell 3000 Index (R3000) has risen from 17.7% to 20.4% in 2020.
There are more and more women added to the board positions annually. However, the rate of addition is not enough. According to the sixth edition of Deloitte Global’s Women in the Boardroom Report, the percentage of board seats held by women has only grown 1.9% globally. If this were to continue it could possibly take us thirty years to achieve any gender parity.
Need For More Women In The Boardroom
What is the consensus though about these positions held by some very dynamic women? Why do we need more women in the boardroom?
A very important thing to note is that the Board must reflect the changing customer base and generational impacts in the organization. For example, if an organization may be selling all men’s products, but the influencers of the purchasing decision happen to the women in the house, then a Boardroom diversity reflecting customer behaviour will be valuable. Likewise, if a company is in the business of selling cosmetics and does not have any meaningful female representation on the Board, it will sooner or later miss out on critical visionary insights.
So, what do we need to make the organizational environment conducive for women to thrive and help the company grow? I think the two pillars for this are:
Managing and changing the existing perception: Negative bias exists in all shapes and forms and we need to create positive narratives to balance and tilt the conversation in favour of women. For doing so, we have to make the cultural shift and start giving women in all positions, the power to make decisions in realms outside of HR and Finance – the two most popular women dominated services – and get more mainstream business.
Creating new leadership pipeline: Too often, a woman leader is not selected for lack of pipeline. I once recall an MD of a leading consulting firm was wanting to fill an opening and had asked to see diverse candidates. However, he was not getting the diversity he was wanting. Finally, he told the search executive that he would only consider a female candidate for that role. Lo behold, he finally started seeing a variety of good and diverse resumes of accomplished women with relevant skills and eventually hired a candidate of his choice.
Having more diversity will mean an increase in creativity across products, services, and processes. Men and women think differently and will see things the other won’t.
How can companies benefit from diversity?
Emotional Quotient – There is enough research to prove that EQ is a deciding factor when it comes to making or breaking an acquisition or merger deals across the world.
Thinking styles – A diverse team thinks from a different perspective and adds value to the process of decision making, which otherwise is a lopsided affair and has an inbuilt error in the discretion.
Solution seeking – Diverse team have more capacity to think 360 degrees and hence have higher chances of creating win-win solutions.
Finally, for change to cascade in a positive direction; company leaders need to take ownership of gender diversity, not only by appointing more women to boards but also increase the pipeline of women on boards, organizations across must create pathways for senior women leaders.
Educating managers and executives on the impact of stereotyping and giving them the tools to break down unconscious behaviours are also integral to real change. India Inc has a great pool of senior women leaders and must bring in fresh perspectives into their Boardrooms and look beyond bringing in the family ‘heir’ looms.
(The author, Lakshmi Potluri is a business transformation strategist. The author has had an illustrious career being the present CEO, DCF Ventures; Cofounder, Jabong, Ex-Goldman Sachs and Columbia Business School alumni.)
Powered by Passion and creativity, AVS India offers a winning recipe in the world of experiential marketing.
What if one day you realise that events are your calling, something like that happened with the founder of AVS India (Ajay Vadhvani Solutions) who realised that his ideation, planning, and execution could help galvanise brands and businesses. Although AVS had a very humble beginning, the office space was small, but the ideas big.
The year was 2010, and the founder Ajay Vadhvani wanted to test his ideas in experiential marketing. Fast forward to 2020, AVS India has served 108+ clients of international repute, from tech giants to billion-dollar consumer product brands, including Polycom, Jabong, Cisco, Reebok, Zebra Technologies, Hummel, Sun Pharma, Tata Motors, Puma and ESPN, amongst other distinguished brands.
It was like yesterday that AVS was incepted and in April 2020, the company completed a decade in the experiential marketing space. A grand celebration was being planned which was cancelled due to Covid-19. But that did not stop the wishes to pour in from across the world. These 10 years can be summarised by over 1,080 projects that AVS delivered across all major cities in India and 6 countries internationally. To AVS India, it means many happy clients and continues serving them for many years together, this is what gives them tremendous happiness and boost to their courage that they are on the right path.
It was 2010 when the company delivered its first project with perfection. “That day gave us the wings to fly, and it bestowed us with the confidence to serve any Client”, says Ajay. Since then, AVS India has successfully executed corporate conferences, brand activations, product launches, off-sites, thematic events, and seminars, and integrated marketing campaigns for a multitude of clients.
The agency holds expertise in conference planning, corporate event management, and experiential marketing campaigns and has achieved many accolades in this field.
On the path to becoming one of India’s most prestigious construction firms, the real estate giant Sanali Group, founded by Mohammed Noor Haq, has become an industry leader in the Hyderabadi construction realm.
From world-class real estate and Malls to hospitality assets, construction firm Sanali Group has changed the face of much of India’s two major cities – Hyderabad and Bangalore. With the company being thrill-seeking instead of risk-averse, it is also poised to transform the future of the real estate industry in the country.
The company is especially making a name for itself with persistent innovations by employing latest technologies like Mechanization, Computer-Aided Design (CAD) and Building Information Management (BIM).
What’s more interesting is that there are some jaw-dropping technologies which the company is planning to acquire which promise to further revolutionize the construction sector, particularly in India. These range from kinetic flooring to cement capable of absorbing and irradiating light energy to bricks capable of absorbing pollution by filtering the air.
On the path to becoming one of India’s most prestigious construction firms, Sanali Group was established in 1988 in Hyderabad. Founded by Mohammed Noor Haq, the real estate Group has, over time, become a household name in the Hyderabadi construction realm.
The founder Noor Haq is himself a brilliant entrepreneur with an unmatched mind. He has grown as a businessman over the years and formerly served as the General Secretary of Andhra Pradesh Builder’s Association, a well-deserved seat owing to his extensive experience and commendable leadership skills.
His experience and expertise have been instrumental in some of the massive achievements of Sanali Group. He, however, says, “While Sanali Group was founded in Hyderabad, it has now established itself in Bangalore as well as Dubai; these two massive achievements are a result of our team’s efforts.”
Specializing in High Tech Residential Development, Commercial Office Towers, IT Parks, Grade-A Offices, the firm has also been providing professional management of the offices, hence attracting the highest quality tenants while commanding favourable prices. The Group also focuses on constructing special economic zones in India to free people from the economic zones which are crowded, hence expanding business in the nation.
Sanali Group’s efforts and significant contributions towards the expansion of the real estate and construction business in both Hyderabad and Bangalore has been recognized by the government as well as the community, with the Group winning quite a few accolades. Prominent among awards conferred include the Gem of India Award, Rashtriya Gaurav Award, Udyog Pratibha Award, International Status Award, International Trade Promotion Award and Rashtriya Nirman Ratan Award.
“Each of these awards was received by Sanali Group with great pride; such awards are the result of hard work and encourage the Group’s team and staff to keep working and producing excellent results for the community,” says Noor Haq, with humility.
The real estate firm is extending its expertise in developing projects internationally, and today, has a significant presence in several key global markets. Sanali’s world-class project development competencies are underlined by its iconic assets in India and other international markets.
“Sanali Info Park (Corporate campus at Banjara Hills, Hyderabad), Sanali Mall (Shopping complex at Abids, Hyderabad), Sanali Spazio (Software Park at Madhapur, Hyderabad) are some of the well-known projects of the firm,” says Noor Haq, while enlisting the completed projects, adding, “We are working on tens of other important projects like Sanali Casa Paraiso (Luxury apartment residences at Whitefield, Bangalore), Sanali Business Bay (Office building at Hitech City, Hyderabad) and Sanali Edge (Luxury Apartments at Kokapet, Hyderabad).”
After attaining unmatched success in the real estate sector, the Sanali Group has expanded itself and spread its wings into new businesses. Sanali Group is now into a wide range of industries from mineral, IT, marketing, energy, advertising and real estate and comprises of several subsidiaries including Luxor Energy, Sanali Power, Aryabhatta Solutions & IT Parks, Amir Ads, Sanali Resources, Sana Haq Architects, Sanali Mines & Minerals, Ameri Resources, Cloud Resources, Cyber Towers, Lakefront Towers, Millenium Estates, Sanali IT parks and Remax Constructions.
The construction firm, being around for over two decades now, is at the forefront of the infrastructure revolution that’s moving to tackle the astounding growth of the Indian economy. With proven competencies in property, IT parks, shopping malls & retail and hospitality & leisure, the Group has been shaping new lifestyles with a focus on design excellence, build quality and timely delivery. This has contributed vastly to shaping the Sanali Group as one of the world’s most valuable and admired real estate development companies.
Mr Ankit Pradhan speaks on how India handled the pandemic and the impacts on India after the COVID-19 lockdown ends. He discusses how India will emerge winner after this COVID-19 chaos.
It can be said that the global economy has already entered into a great recession. Superpowers like Italy or America or France or Germany is already the worst affected. A lot many industries such as Travel and Tourism, Hospitality, F&B, Entertainment, Automobile, White Goods, IT, Retail are suffering huge losses, and there is no visible ray of hope any sooner.
In comparison to the developed nations around the world, India has dealt with pandemic very well. The containment of COVID-19 to the current levels is noteworthy.
For foreign investors, India could be the top bet as it already has plans to have more open trade and investment policy. Besides, India is also considered to share values and interest that align closely with the western democracies.
Pre-COVID amidst the global financial crisis, companies like Apple, Nintendo, HP, Dell were already planning to move as rapid wage growth in china outplaced labour productivity growth.
“Not only can India boast of having highly skilled labour, impressive entrepreneurial talent, a large internal consumer market and thriving private enterprises, but India’s analytic, financial, technical, and management services are also world-class”, says Mr Ankit Pradhan, Founder and CEO, Realtyassistant.
Developed nations like Japan has announced setting up of a $2.2-billion fund, to help its manufacturers for shifting of their production out of China as the coronavirus disrupted supply chains between the major trading partners. Other developed countries are also likely to urge their investors to follow a similar strategy.
American and Europian economies have taken a significant hit, and now the foreign investors have to look for destinations with comparatively low operation and production costs and a local supply chain in place. Furthermore, businesses want to de-risk in having supply chain concentrated in one area and try to diversify and disperse.
Mr Ankit Pradhan, Founder and CEO, Realtyassistant further adds, “India is among the top FDI destinations in the world; it is evident from the fact that last year India received half of the total of previous twenty years of FDI investment.”
India did receive a sum of $64.37 billion of FDI in 2018-19, which is a 6 per cent jump over the2017-18, at a time when global FDI flow was declining. UNCTAD, India compiled the Global Investment Trend Monitor report which shows India among the top 10 recipients of FDI in the year 2019, resulting in attracting $49 billion in inflows, a 16 per cent increase from the previous year.
Meanwhile, India is emerging as a reliable alternative to China for foreign companies invested in manufacturing and sourcing. India has to work on positioning itself as a global services hub in sectors like Pharmaceuticals and the integration of India in the worldwide supply chain is to be seen.
‘Invest India’ has joined hands with the Top global consultancy firms like Bain & Co, EY, PwC, BCG, KPMG, Primus Partners, and Mirae Asset Management to make out an economic revival strategy. Our country can meet this requirement as incentives allow fast-tracking of manufacturing, especially in special economic zones (SEZs) and free trade zones.
India has allocated about US$6 billion to boost domestic manufacturing and to attract investment and incentivise electronics and components manufacturing and exports in the country. This move was announced as a part of India’s ambition to become a US$1 trillion economy by 2025.
The official trade and investment regulator of the country, the Department of Promotion for Industry and Internal Trade (DPIIT) notified changes to India’s foreign direct investment (FDI) policy.
The above step was taken in turn to restrict any wrong buying of Indian businesses by the Chinese companies or state-run institutions. These changes now make government clearance mandatory – for all FDI inflows from countries that share land borders with India.
Lately, UP Chief Minister, Yogi Adityanath has also promised tailor-made facilities to giants like FedEx, Cisco and Adobe for moving facility to Uttar Pradesh.
The FDI policy is already tightened to prevent any opportunistic takeovers or acquisition of Indian companies due to the COVID-19 pandemic. Hence, India has an opportunity to become a sustainable, resilient and diverse economy. It looks like India is all set to emerge as a post-COVID winner.