The Sustainable Corporate Governance-The Challenges Vs Opportunities ? A Voyage to Future(VTF) ? Are Corporate Leaders Ready(ACLR)?

Dear Corporate Friends, What a best time for the corporates, startups & entrepreneurship as we are embracing the digital disruption at an unprecedented scale as have world wide connectivity that empowered us to have such a huge consumption of data & facilitation of interaction on social media portals. It is the best example that a great challenge has an associated opportunity as we did witness it during pandemic as Covid 19 brought us the spurt in digitalization at a monumental scale and very large number of fintech companies come up with in a short time. Same is true many other technology companies and Work From Home(WFH) became a normal mode of working and also virtual classes manifested in many Edu-Tech companies in education field. These is an another example is Climate Change as it has given birth to the Green Energy Transition at a very fast pace and that sector is attracting investments in trillions of dollars. So, is the case that world is encountering a rapid growth in emerging technologies and that has a huge impact on each aspect of humanity. So, this VUCA world is facing many emerging challenges but each one of them brings an opportunity along with and that is causing a disruption in each walk of life and I feel that it shall settle with amount of some stability only by the end of this century.

So, the corporate leaders are you ready for this roller coaster of very rapid changes in our life over next 75 years as the way we look at this world shall witness an unexpected twist at a very fast pace to 180 degree and then it undergoing at rocket speed through encircling to the rest path with 360 degree change. I call it "A Voyage to Future(VTF)" and it is going to be the time that shall be remembered for ever in the Human History as "A Most Exciting Time" (AMET). Let's meet some of the challenges and what opportunities that have with them and how the corporate leaders are going to handle them or manage them.

1.How to draw strategies ? I feel that each corporate leader has to have a very agile Board that shall comprise the experts / professionals that are technologically & dynamically updated, adequately skilled & re-skilled and having ethical values so that a vibrant & ever changing strategy for the businesses could be drawn that remains ever sustainable for the organization under the impact of fast changing technologies and that impacting hugely the Demand & Supply mechanisms globally. So, the corporates leaders have to have a most competent board in order to drive the evolving strategies for the businesses.

2. ESG: The ESG is very vital and the corporates have to integrate ESG policies as main frame of the compliances as part of evolving strategy as it is driving the very core of the business that is Sustainability. So, if a business has to withstand vagaries of change in this rapidly changing world they must evolve their strategies around ESG as pivot to the Corporate Governance. The ethical values, the building of sound corporate culture and to be planet, people & profit centric it is must that a corporate leader pays utmost importance towards the compliance of ESG policies. The Green Energy Transition is part of ESG policies of a corporate.

3.DEI & Women Empowerment: The DEI policies are also needed to be all encompassing and as part of evolving strategies over a period of time as it provides the strength to build up a global corporate culture for all the geographies and it helps greatly in risk resolution those are location specific. Sound DEI policies support Women Empowerment and help the people on board those are having certain disabilities.

4. The Certified Independent Directors(IDs) must be there as part of Board so that dynamic strategies could be implemented and if a great team as a Board of the Corporate is there it shall emphasis the talent spotting, skilling them & reskilling them as technologies are evolving at a very fast pace and it shall empower an Organization Development as a great team is always in place if competent people are there on board those are having a vision that is global and as best for the sustainable businesses. The Women IDs must be there in Boards Composition at least 30 %.

5. The Enterprise Risk Management(ERM): ERM has become very important due to emerging geo-politics challenges on this planet due to war between countries or as some nations are following expansionist policies & bullying nations in order to fulfil their ambitious goals as part of their ideologies that are against Humanity on this Earth or a fight against terrorism, radicalization, terror groups supported by nations, cyber security, deep fakes or an unethical use of AI, and growing debt of nations & the huge existing global debt, climate change & as a result unexpected increase in Natural Disasters and sea-piracy or some terror groups are chocking sea routes that are impacting Global Supply Chains and it brings escalation in costs and it brings dis balance in demand & supply. The economies around the world are hit badly so a dynamic board shall consider all these evolving challenges that corporates or businesses are going encounter in times ahead, hence, a dynamic ERM system has to be in place.

6.Skilling, Re-Skilling and further Skilling: Is pivot to the sustainable businesses and this aspect in most important part to empower teams and boards with dynamic policy on skilling.

In just brief I have brought out certain aspects that shall make the businesses as sustainable in next 75 years that is most challenging ever in the Human History.