Is your company board lopsided? Lacks diversity?

Last week I was discussing CFO of one of the listed companies about their board vacancy and new members on the board. He informed me that they have inducted two chartered accountants (CA). One CA was already there on their board. I wondered how many CAs a company needs on their board? Company board indicates diversity and inattentiveness of the company.  

In most Indian companies we will find CA and lawyers as independent directors. I fail to understand compliance is the only role of the board? Do executive directors not want views from professionals from various fields? 

Marketing, HR, Economists, Architects, and why not writers ad artists, for out of the box views , social media expert, IT professionals , film directors , media & communication professionals, international and local domain experts I mean there are many diverse professionals available who can add perhaps more value that legal and finance professionals. 

But most companies do not want to think differently. Independent directors should play active role in growth and strategy of the company which is much more than compliance and tax planning or linear thinking. there is noting wrong with CA and lawyers on board but excessive of them wont work. 

In light of above today's interview of SBI Chairperson Mrs Bhattacharya is welcome that PSU boards have surfeit of CAs. I think this should be a thinking point for all boards to review critically excessive of anything. Company board need diversity in times we live in. Markets outside is dynamic and need lateral thinking. When war is of talent , limited and lopsided boards will make companies struggle to survive.

(Anti-Disclaimer:  I myself is a CA)   

14 ways to become Interesting Company.

We all are BORING unless we do INTERESTING things. 

On Sunday last I completed one of the finest books on marketing The Referral Engine by John Jantsch. In between I finished other three books in between i.e. Delivering Happiness by Tony , Founder CEO of Zappos.com , Linchpin by Seth Godin & Zen of Social Media Marketing by Shama Kabini. All the four were excellent READ. I am enriched !!!

Author of book The Referral Engine writes that BORING companies are never talked about or referred by any one.  

This is interesting. Not only people but companies are also BORING. This made me think about "Which is a Boring Company??"

- Customers -  talks about the way you do business or your product /services?

-  Do they feel WOW!!! while dealing with the company?

- Media - take notice and cover write up or interviews?

- People - eager to join your company (getting good number of resume) and employee turnover ratio is lowest in the industry? Employees are given opportunities to grow personally? Happiness surveys are part of appraisal process ? 

- Suppliers - can’t afford to lose your contract? Ready to offer more credit, get paid on due dates? 

- Processes - customer friendly, quicker and easier to deal with?

- Project - undertake interesting, large, relevant projects and execute with passion and purpose?

- Experiment - invests in our internal people for their start up ideas? Ideas fly from bottom to the top? 

- Innovation - way of life , failure is respected internally, customer focus is the ONLY focus?

- Unexpected - surprise element is a part of your offerings? 

- Social Media - customer often write great reviews about your offerings? 

- Celebrate - all festivals , birthdays of employees (even customers) and  small successes?

- Social - activities are encouraged internally?  

- Case Studies - business school studies your company for their class room case studies?

- Referral Business - most new business are coming this route? 

- Board of Director - have some interesting/weird member not connected with the business and governance? 

(I invite more real life case studies which makes company interesting) 

If no such things (ideally everything must be happening) are happening , of-course then company can be classified as BORING. 

Boring Vs Interesting !!!Agenda is to make company interesting and exciting. Rest will be taken care automatically.