Rishu Singh, Central University of Tamil Nadu
“Companies that overlook half of the world’s population overlook half of the world’s talent. To compete effectively, we need to reflect the diversity of the world in which we, and our clients, live and work.”
- Sheila Penrose Fotolia
ABSTRACT
Any company's board of directors has ultimate authority for decision-making and governance. The need for a group of dependable and respectable individuals to protect the interests of shareholders who aren't directly involved in the company's decision-making process gave rise to the idea of a board of directors. The need for better corporate governance has become apparent in the wake of numerous business scandals and frauds. According to the companies Act of 2013, a specified class of firms must have at least one female director on the board. Stronger corporate governance practises and better outcomes can follow from adding a woman to the board of directors. The provision is thoroughly examined in the study, which also emphasises how it affects gender diversity on the Board. Women are renowned for being cautious, intuitive, more concerned with ethics, morals, and behaviour, detail-oriented, and conservative in their evaluations. Women directors are perceived as knowledgeable information gatherers, which enhances board member interaction. In India, boardrooms don't necessarily see the necessity for gender diversity. The percentage of women in top management positions in India is among the lowest in the entire world. This study aims to present the relevant Indian scenario. A road plan for enhancing gender diversity at the board level has been given together with reasons for gender inequality in the boardroom.
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