Women in Business Leadership: A study of the\rtop 100 Bombay Stock Exchange-listed companies

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India is currently one the countries worst affected by climate change related disasters. Scientific evidence of levels of carbon and greenhouse gas emission has been collected to examine if there are any limits to such growth. This paper argues that India needs to adopt a pro-active stance towards international climate negotiations by following a 'single framework' approach as used by the USA. This means adhering to a 'carbon budgets' strategy which limits carbon emissions in relation to the global environmental temperature. It also leads to a 'co-benefit' approach which considers the multiple developmental objectives from any activity including greenhouse gas (GHG) mitigation. The paper concludes by calling for a campaign to bring together civil society groups and activists from the North and South. It also urges Governments and civil society stakeholders to better understand lessons of climate science, the development priorities of the global South, and the imperatives of global as well as national equity. It states that ‘this gap should be bridged if nations of the world are to be pushed towards an effective, equitable climate agreement.’
  1   Oxfam India working papers series JUNE 2013OIWPS - XX Report on Women in Business Leadership: A Study of the Top 100 Bombay Stock Exchange-listed Companies Submitted to Oxfam, India by  P ARTNERS   IN  C HANGE Making Corporate Social Responsibility Your Business C - 75, South Extension – Part II, New Delhi - 110049 (India)Tel: +91 11 41642348-51; Fax: +91 11 41642995www.picindia.org  2In traditional Indian societies, women were confined to the four walls of their homes, primarily performing household activities. They were considered to be the “weaker sex” and were made to depend on male family members throughout their lives. Indian culture posited them as subordinates and executors of the decisions made by men. Despite all kinds of social hurdles, India today is brimming with success stories of women. They stand tall in the crowd and are recognized for their achievements in their respective fields. These accomplishments hold true for the business community as well. The most important determinant of a country’s competitiveness is its human capital—the skills, education and productivity of its workforce. Women account for half of the potential talent base throughout the world and, therefore, over time a country’s competitiveness depends significantly on whether and how it educates and utilizes this resource. OXFAM commissioned Partners in Change (PiC) to conduct a study to assess and analyze the gender disparity in business management. The study aims to shed light on the presence of women at board and senior management levels in India’s top 100 companies listed on the Bombay Stock Exchange (BSE). Objective of the study: 1. To understand the role of women in the Indian business environment, especially in the context of decision making at governance and management levels in companies listed in India2. To identify sectors where women have strong decision making power as opposed to those where women enjoy marginal status3. To help Oxfam India plan for its ‘Women Empowerment Program’ Scope of the Assessment The analysis included the top 100 BSE companies, looking at the following four points:a. Women as Chairpersonsb. Women at the Board Levelc. Women at the Leadership Level (CEO/MD/CMD)d. Women in the Senior Management positions Assessment Process The study is exclusively exploratory in nature. To conduct the assessment, both qualitative and qualitative research methods were used. The research is principally based on secondary sources of information - websites of the listed companies as well as other information available in the public domain. Data was collected, collated and analyzed to evaluate the status of women at the senior corporate level from the 100 top-listed companies. Data Collation and Analysis A database on the information of the boards of directors and senior management was created for 100 companies. We extracted the data on female directors using key search words. The recent annual reports of the companies were downloaded and these are available for cross-reference in case of any doubts. Data was crosschecked where names did not have the standard prefixes of Ms. Mrs., Smt. or Kumari. Sufficient care was taken to ensure that we have covered all the women in our data set. INTRODUCTION  3PiC conducted a secondary survey in 100 top-listed companies rated by BSE. This survey was completed by analyzing two key categories: governance (including chairperson, percentage of women on board and total board members) and senior management (including CEOs and managing directors, percentage of women in senior management and total members in senior management). This section details the analysis of the project in three sections:1. Women at the board level2. Women in senior management3. Other findings Women at the Board Level According to Figure 1, of the 1,159 directorships in 100 companies listed on BSE, women held only 76 of those positions as of December 2012. They represent just 6.6 per cent of the total at the board level. This is a marginal increase from 59 women holding directorships in 2011.The data was crosschecked with the report published by the Associated Chambers of Commerce and Industry (ASSOCHAM) in 2011, which found that only 5.3 per cent of women held directorships out of a total 1,112 positions in the 100 companies listed on the BSE. Another recent study by Catalyst in 2011 found that only 4.9 per cent of board of directors in India are women, even though women comprise 36 per cent of the labour force.This percentage is significantly lower than in other countries: 15 per cent in Canada, 14.5 per cent in the US, 12.2 per cent in Britain, 8.9 per cent in Hong Kong and 8.3 per cent in Australia. Women were involved in 53 companies as board members whereas 47 companies have no women on the board in FY 2011-12. Only eight ASSESSMENT Figure 1: Number of Individuals Figure 2: pERCENTAGE OF WOMEN 020040060080010001200MaleFemale 6%Female761083 Male 94%  4companies have 20 per cent or more women. Coal India has the highest number of women board members (four of the 17 members or 24 per cent). Women in Senior Management The Grant Thornton's International Business Report (IBR) 2012 asserts that the proportion of women holding senior management roles in India is steadily increasing. According to the report, women in senior management have increased from nine per cent in 2011 to 14 per cent in 2012. These figures portray a more positive picture than the results from the research conducted by PiC on women in these same roles in the BSE top 100. Figure 3 shows that only 79 women as opposed to ,1416 men were involved in various posts of senior management in the BSE 100 top listed companies. This comprised only 5.3 per cent of total representation. It is important to note that company public data does not always give exact numbers for those in senior management, regardless of gender. So it is possible that the number of women may be slightly higher than this study shows.Women were given charge of various posts in senior management in 50 companies whereas the publically available documents of the other 50 companies showed no women holding any senior management position. Only seven companies had 20 per cent or more women in its senior management. Canara Finance reported 27 per cent women in the top management. Other Findings We attempted to identify trends due to the sector of activity and ownership patterns. Based on their share distribution, companies were categorized as Public Sector Undertakings (29), Multi-National Corporations (23), family-owned (33) or board-owned (15). However, ownership does not seem to impact the number of women in positions of authority. MNCs seem to have a slightly higher percentage of women on the board. Likewise, companies were divided into twelve different sectors of activity and results analyzed. However, it appears that no particular sector has a strong propensity to hire more women.We also looked at the profiles of key women in business today. What makes the situation different now is that, unlike earlier, where women in business tended to hail from “business families” and worked in the family business, today's women in business are often first generation entrepreneurs. Nowadays, female Figure 3: Number of Individuals Figure 4: pERCENTAGE OF WOMEN 030060090012001500MaleFemale791416 Male 95% Female 5%
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