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Transitioning to 2024: Entering a New Phase of Global Growth
By- Institute of Directors | Authored by- Lt. Gen. Surinder Nath, PVSM AVSM (Retd.)
Jan 02, 2024
As we bid adieu to 2023, a year marked by global imbalances and supply chain disruptions, we find ourselves at the threshold of new possibilities. Despite the rollercoaster, the silver lining was the elevated quality of governance, poised to propel us into a year of triumphs – 2024.
Reflecting on the year 2023, IOD successfully hosted 7 impactful global events, 5 pivotal national conferences, forged new alliances and welcomed members from across the world including US, UK, UAE, Singapore, Finland, Netherlands, Poland, South Africa, Ireland, Germany, Rwanda, Oman, Zimbabwe, France, Belarus, Afghanistan, Kenya, Serbia, Zambia, Ireland, Switzerland, Qatar, Venezuela, Sri Lanka, Bermuda, Angola, Nepal, Myanmar, Italy et al.
IOD also provided around 50 training sessions to over 1,000 corporate directors and senior executives, ensuring that the India Inc. is prepared with 'Future-Ready Boards'. Further enriching our repository, we introduced 5 IOD Handbooks, encompassing The Board, Corporate Governance, Independent Directors, ESG, and Board's Preparedness on Transformative Technologies, aimed at enhancing the expertise of the boardroom community, policy makers, professionals, and academia.
IOD's famed Golden Peacock Awards, which have become a hallmark of excellence globally, in 15 corporate verticals, has assessed more than 1,000 applications this year, reflecting on India Inc.'s dedication to achieve global excellence and go beyond the best industry standards.
IOD's Board Advisory witnessed an elevated focus from listed & public organisations, underscoring a heightened emphasis on board & governance advisory, further reinforcing IOD's commitment to 'Building Future-Ready Boards'. Through its Board Research endeavours, IOD spearheaded ground-breaking global research initiatives, collaborating with global think tanks and organisations, on topics including ESG preparedness within Boardrooms, Significance of Measuring Boardroom Culture, Managing Crisis et al.
IOD proudly unveils the power-packed 2024 Annual Calendar, expanding its reach with the 2024 UAE Global Convention on Leadership for Innovation and Business Excellence on the theme “Board's Strategy for a Future-Ready Business in an Uncertain World”, from March 5-8, 2024, in Abu Dhabi. The Convention will focus on boards' transformational strategy for excellence and growth in the new world order, which will also cover sustainable operational business models and resilience for a future, climate friendly economic growth. Future governance practices will have to take into consideration the challenges of Digital Disruption; Sustainability and ESG; Cyber Security; Talent and Workforce: Globalisation and Geopolitical Risk: Ethical Leadership; and Cyber – physical Systems. Corporate Governance practices will experience increased focus on Sustainability and ESG issues; stakeholder engagement; diverse Boards; greater use of technology in Corporate Governance, mainly the predominance of AI; enhanced focus on Risk Management and Risk Appetite; and long-term value creation.
The robust groundwork laid in 2023, fortified by a governance landscape in ascendancy, paves the way for a promising future. In the upcoming year, IOD is set to curate thought-provoking discussions with global leaders and introduce a cascade of training initiatives. These initiatives are intricately crafted to empower both aspiring and seasoned directors within India Inc. and on the global stage.
As the world grapples with uncertainties, IOD stands resolute, with our unwavering commitment to fostering excellence in corporate governance. We are gearing for a year packed with insightful dialogues, strategic collaborations, for a brighter, more resilient future for the corporate landscape, which will undoubtedly shape the trajectory of success for India Inc. in 2024.
Last month, IOD organised the 18th International Conference on Corporate Social Responsibility on the theme 'CSR and Exploring Evaluation of ESG in the New World Economy' during December 21-22, 2023 in Mumbai. This January 2024 issue carries a complete report of this conference.
In a pioneering move, IOD hosted a Survey amongst its esteemed members delving into the anticipated Potential Trends in 2024 and the Evolving Role of Boards. This survey provides an exclusive insight into the collective foresight of IOD's diverse and influential membership base, and the valuable insights are featured in this January issue.
The Institute of Directors, India is geared up to lead, inspire, and innovate in the pursuit of excellence.
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Lt. Gen. Surinder Nath, PVSM AVSM (Retd.)
President, Institute of Directors
former Chairman, UPSC
former Vice Chief of Army Staff and
former Independent Director, L&T Ltd.
He took over as the President of Institute of Directors with effect from 02 December, 2022
Owned by: Institute of Directors, India
Disclaimer: The opinions expressed in the articles/ stories are the personal opinions of the author. IOD/ Editor is not responsible for the accuracy, completeness, suitability, or validity of any information in those articles. The information, facts or opinions expressed in the articles/ speeches do not reflect the views of IOD/ Editor and IOD/ Editor does not assume any responsibility or liability for the same.
