Taking forward its newly introduced international webinar series, the second international webinar was successfully organized by the Global Research Foundation for Corporate Governance (GRFCG) on the 15th July 2020 (Wednesday) at 1530 hours (IST) via google meet platform. The Webinar had the presence of internationally acclaimed scholar and academician Dr. Shann Turnbull, Principal, International Institute for Self-Governance, Sydney, Australia as a distinguished speaker to address over 130 participants from across the globe.[1] The webinar started with a warm welcome of the distinguished speaker Dr. Shann Turnbull by the Chairman of the Global Research Foundation for Corporate Governance Prof. J. P. Sharma and a formal introduction by Dr. Poonam Sethi, moderator of the session and a member of the Global Research Foundation for Corporate Governance.
Dr. Turnbull deliberated on the case for radical reform of corporate governance and shared his rich knowledge and vast research experiences on radical reform in the area of corporate governance with the participants. He meticulously narrated the rationale and relevance of various contemporary issues on corporate governance like network governance, self-governance, ecological governance, toxic problems of hierarchies and how mimicking nature can mitigate systems problems in hierarchies. The important takeaway message of the webinar was (i) corporate charters become toxic if they do not introduce a separation of power and (ii) organization without a requisite variety of independent feedback channels from stakeholders lack both operating resiliency and social accountability. Hence, Directors and their shareholders have a responsibility to craft corporate charters that minimize control and communication risks by ensuring they obtain a requisite variety of independent stakeholder feedback.
A plethora of questions were raised by the enthusiastic participants attending the webinar from different parts of the country, which were all convincingly addressed by the distinguished speaker making the webinar a very lively and interactive. The webinar ended with a vote of thanks by Dr. Nidhi Kapoor, a member of GRFCG.
