Director Today - March 2016

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"The time is Ripe to integrate CSR as part of a Business Strategy” says Mrs. Rajashree Birla, Chairperson, Aditya Birla Centre for Community Initiatives and Rural Development, Aditya Birla Group
The global financial crisis of 2008 was a turning point for emphasis on board effectiveness. Criticism of company boards invariably intensified during the period from 2008 to say 2014 after the things went wrong on a large scale. Various surveys indicated that many of the companies whose corpses littered the industrial and financial landscape were undermined by neglecting, over optimistic or illinformed boards prior to the financial crisis and the ensuing deep recession. Not surprisingly, subsequently there has been a renewed focus on improved corporate governance; better structures; more rigorous checks and balances and greater independence of non-executive directors.