At a time of global economic uncertainty and when corporate governance systems are being severely tested; the Institute of Directors, India held its 17th annual London Global Convention on ‘Emerging Issues in Corporate Governance and Sustainability’.
The convention saw a host of corporates from India, UK and the UAE descend at the Millennium Hotel in Mayfair coming together to discuss issues plaguing the corporate world and ended with the gala Golden Peacock Awards.
The event saw many dignitaries including the Chief Minister of Andhra Pradesh Mr Chandrababu Naidu, Lt Gen JS Ahluwalia, President of the Institute of Directors India, Rt Hon Lord Swaraj Paul of Marylebone, PC, Baroness Sandip Verma, His Excellency the High Commissioner of India to the UK Mr YK Sinha, CEO of London Stock Exchange Mr Nikhil Rathi, Deputy Mayor of London for Business Mr Rajesh Agarwal, Rt Hon Priti Patel MP, Hon Shailesh Vara MP, Alok Sharma MP amongst others.
As part of the convention, Managing Director of Here and Now 365 Manish Tiwari spoke on the dynamics of the board-stakeholder relationships with a special focus on social media. As part of his address to the convention, he said: “We live in a world where we are losing ‘control’ of everything around us, including our own personal space. In management principle, Control/Span of Control is a key Pillar. Today, there are multitude of variables at play. The biggest among all, is the perception and confidentiality that need to be managed, to maintain both sanctity, sanity and the very survival of business however good one performs. My point of view is for all us to be conscious of our limitations than following the line.”
He further said: “My fellow directors, the present and future board is all about accepting the democratic nature of communication and recognising the omnipotence of social media. We have to accept the fact that, however good we have done in our P&L and Balance Sheet a wrong message, negative perception can shake an organisation to its core.”