Power shifts in the age of Corporate Governance

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Of the world’s top 100 revenue collectors, fewer than 30 are nation states. The rest are corporate entities.

Do you/we then wonder, why the power has shifted to corporate captains?  The kingdoms and the democratically elected Prime Ministers and Presidents seem to be increasingly at the mercy of corporates who ostensibly can sway the election results (recall last US Presidential election where social media had allegedly influenced the outcome), alter public opinion, engineer riots (Minneapolis or Delhi, Bangalore this year) or monopolize market places. Today technology companies controlling technology platforms control the social systems.  For instance, ‘To organise the world’s information’ is Google’s stated noble function. Now whether it manipulates the algorithms for own commercial gains or public good depends a lot on the judgement calls taken by people at the helm.

Governments, opposition parties and civil society champions across different countries often write to the captains of these companies and seek interventions.

Whether it’s retailers of a country up in arms against Amazon or transport systems of urban world monopolized by Uber or tourism economy dictated by rules of AirBnB are all the trends indicating the shifting power dynamics.

These corporates in turn are governed by a team of people who constitute the Board of Directors of respective company. It implies that the use or abuse of power by a corporate can only be regulated by the Board at helm.  As the number of these mega firms grows, the power of the governments (elected or otherwise) is shifting to them.

Without getting into a philosophical or moral argument, suffice is to say that – for now the scenario is headed in a direction where the behaviour and dispensation of the Board of Directors can spell doom or uplift humanity.   The responsibility upon the boards is set to increase and expand beyond the triple bottom.

Therefore, if you are a director on board of a company, then you must know that you belong to the small fraternity which is increasingly being relied upon to script the destiny of people of this world.  Are you ready to sustain the pressures of this overwhelming responsibility or you looking to follow the path of those in queue to quit?

If you are a conscientious and competent director you would leave a legacy by choosing the path of resilience and becoming a harbinger of hope rather than to save your skin and leave stakeholders to doom.  Each one of the successful individuals on this path will emerge a statesman/ stateswoman.

Assuming you have decided to stay on course, here are a few questions for reflection  — How am I enhancing my own competence to leave behind the footprints of path to progress? Which paradigms when I embrace would unfold new horizons? How do I broaden my perspectives to contribute meaningfully? Am I curious and open learn ? Do I display the compassion for our most vulnerable stakeholders? Do I access courage to withstand the executive powers? Remember, this will lead to nurturing a crucial skill – to expand your circle of influence, without power and authority.


We will be happy to capture your experiences and thoughts.  Should you have the inclination to share, do not hesitate to ping us, we will be happy to call and capture your views.

Do reach out to  ha****@fi*********.com  or  na*****@fi*********.com .

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