When is a CEO not a CEO?
Business leaders are the most influential people in society and should be treated as such, a leading Indian business think-tank has said.
In a report released on Thursday, the think-tanks Institute of Business and Entrepreneurship said that while there were clear differences between CEO status and CEO management, the key role is still to be determined for the two.
The report said that the business world has come to view CEOs as the leaders of the business.
“It is time to reevaluate the role of the CEO in society,” it said.
“In the absence of a clear definition of what a CEO is, we need to define the role and responsibilities of the leader,” the report said.
The institute pointed out that there are numerous factors that contribute to the perception of the role in society.
One such factor is that there is a strong bias in favour of a male leader.
In a country where gender is a very important factor in business decisions, the report pointed out, it is vital that the role is defined.
“It is not just about whether a male or female CEO is the right choice for the country, but whether it is right for the economy, for the nation and for the company,” it added.
“This needs to be decided by the leadership and the board of directors.
This must also be done in the interest of the shareholders, the workers and the customers.”
The institute said that in India, gender is not only a key factor in the hiring and promotion of top executives but also a key issue in corporate governance.
“The board of the company is the most powerful body in the company, but it has to act on its own.
There is no need to use the power of the board to impose gender quotas.”
According to the report, India’s board of governors is the second most powerful institution in the country and it has been responsible for appointing more than 100 CEOs since 1998.