Showing posts with label sbi. Show all posts
Showing posts with label sbi. Show all posts

Monday, January 12, 2015

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)   

Tuesday, January 17, 2012

7 + Reasons WHY Social Media is a MUST for EVERY Enterprises

We are afraid that if we go social , there will be lot of negative branding against our brand or company. Many companies have this apprehension and they avoid social media.  What a missed opportunity!!!!

Social Media platforms mean voice of people, customers. Brands are not providing them platforms but social media companies are doing it. Customers will not only express their views , feelings and experiences but also share the same & it will be further shared by the recipients.  It will go viral in moments. Whether brands are active online or no, customers are talking about it. Earlier there was one way and one to one communication. Now its many to many. 

Smart Companies are taking advantage of this opportunity. Yes its a HUGE opportunity. Use negative comments to your advantage by interfering in the discussion and clarifying company position. Without company's version to the negative experience, it will go more negative. Once company also participates and clarifies the position not only complaining customers but also all other readers will know the reality and understand how company responds when customers are in trouble. 

Its an opportunity on the contrary to stop the damage that can be caused by negative comments and experiences of the customers. Its an opportunity to converse with others and potential customers.  Its an opportunity to WOW!! by quickly responding and responding with offer to help as and when customers are in need. 

There are many examples HOW companies are reaping benefits by actively participating in the  discussions / responding on social media and solving customer issues. It will also make companies to do something special so that people /customers talks about the same on social media. Yes it can be planned to use for positive  ripples in the customer groups. 

Build Brand , Spread Quickly,  Strengthen Customer Relationship, Stop Damage by Negative Branding , Engage with Customers, Create WOW !! Experience , Get new Customers & also much more. 

Some of the large Indian Brands using SM actively: Dabur, Pizza Hut, Britannia, SBI, Amul, Maruti, ICICI Bank, Flipkart. More are joining the bandwagon.

Issue of WHY social media is long back answered.  Companies Must think on HOW and HOW quickly to start leveraging this powerful medium.  

Most old (started in 20th century) businesses are Social Media Immigrants but all businesses started during last one decade are Social Media Native.  For natives its way of doing business but for immigrants its new and hence worrying. Quickly become adjusted to NEW NORMAL and reap the advantage. 

Ask and answer NOW: Whats our Social Media Strategy and Action Pan!!! ,