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ICSI VISION 2020. Vision 2020. Need to reshape the profession with long-term vision to: meet new expectations of stakeholders, capitalize on new opportunities, meet new challenges of the next decade - PowerPoint PPT Presentation
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ICSI VISION 2020
October 14, 2011
Vision 2020
Need to reshape the profession with long-term vision to:
– meet new expectations of stakeholders,
– capitalize on new opportunities,
– meet new challenges of the next decade
The Council of the Institute decided to draw up ICSI Vision 2020 and for the purpose constituted a Core Group
ICSI - Delivering Value for more than 4 decades
1 Ravi KastiaGlobal Head, Mining & International Trading, Aditya Birla Group, Mumbai.
Chairman
2 A K Khandelwal (Dr.), Former Chairman & Managing Director, Bank of Baroda, Mumbai.
Member
3 Arun Nanda , Executive Director, Mahindra & Mahindra, Mumbai.
Member
4 C Parthasarathy, Managing Director, Karvy Computershare Pvt. Ltd., Hyderabad.
Member
5 Susir KumarChief Executive Officer, Intelenet Global Services, Mumbai.
Member
6 Vijaya Sampath (Ms.)Group General Counsel & CS, Bharti Group of Companies, New Delhi
Member
7 K S Ravichandaran (Dr.), Company Secretary, Coimbatore.
Member
8 S N Ananthasubramanian, (Council Member - The ICSI), Proprietor, S N Ananthasubramanian & Co., Company Secretaries, Thane.
Member
9 Pradeep K Mittal, (Council Member – The ICSI), Partner and Chief Advisor, PKMG Law Chambers, Delhi.
Member
10 R Sridharan, (Council Member – The ICSI), Proprietor, R Sridharan & Associates, Company Secretaries, Chennai.
Member
11 Prof V.N. Rajasekharan Pillai, Vice-Chancellor, IGNOU (Indira Gandhi National Open University)
Member
12 Prof M B Athreya, Management Consultant, New Delhi
Advisor
Constitution of Core Group
Core Group to be supported and assisted by the President and Secretary & CEO, ICSI.
Conceptual Framework Multiple Stakeholders & Rising
Expectation
Institute Mission & Objectives
Long Term Vision & Goals
Strategic Directions
Organization Design
Management Systems
Implementation
Environment Scan Resource Audit
Feedback loop for correction and learning
Integrated Management Model
Conceptual Framework Multiple Stakeholders and Rising Expectations
Institute Mission & Objectives
Environment Scan
Resource Audit
Long Term Vision and Goals
Strategic Directions
Organization Design
Management System
Implementation
Market Survey by the team of ICSI through
• Personal Interviews
• Seminars
• Meetings at Chapters Level
• On-line survey
• Desk Research
Stakeholders’ Survey
Expectation of Trade & Industry
Improving personality and personal traits - versatility, communication, confidence, business attitude, managerial skills etc.
Carving out new areas - indirect taxation, SME sector, governance of unlisted companies, risk management, fund management and wealth creation, etc.
Technical competencies - legal drafting, updated knowledge of law, global perspective and advocacy skills.
Value Addition and Quality
• In-depth knowledge and quality, expertise in legal drafting and pleading skills
• Capitalize on existing and new opportunities
• Changing the members’ learning approach
• Improve quality
Expectation of Regulators
Highest Standards of Values and Ethics
• Create employment opportunities
• Promote impeccable standards of corporate governance
• Educate the corporate sector about CSR
• Investor education and protection
• Train and develop management leaders
• Undertake Social Service
Expectations of Society
Nurture sound professionals & conscience keepers
• Good career opportunities
• On-line services
• Better infrastructure facilities
• Updated, simple and interactive syllabus
• Industry oriented practical training
• Programs on soft skills and personality development
• Collaborative arrangements for acquiring other qualifications
Expectations of Students
Launch pad for a Satisfying Future
• CS to be established as a Corporate Governance professional
• Promote compliance management
• Enhance employment opportunities by focused marketing of the course
• Increase visibility and build a distinct brand
• Global collaborations and tie ups
Expectations of Members in Employment
Reposition as ‘Corporate Managers’
• Strengthen practice side by recognitions and capacity building
• Improving quality of services
• Gaining competitive edge over other professions
• Bringing global perspective at all levels
Expectations of Members in Practice
Enabling Members in Practice to perform as ‘Corporate Advisors’
• Make ICSI a world class institution
• Create growth opportunities for the employees at all levels
• Additional human resources and infrastructure to deliver better quality of services
Expectation of Employees
Grow along with ICSI
Conceptual Framework Multiple Stakeholders and Rising Expectations
Institute Mission & Objectives
Environment Scan
Resource Audit
Long Term Vision and Goals
Strategic Directions
Organization Design
Management System
Implementation
Environment Scan
Domestic Environment
Economic and Business
Environment
Legal & Regulatory
Other AspectsTechnological
Domestic Environment Global Environment
Conceptual Framework Multiple Stakeholders and Rising Expectations
Institute Mission & Objectives
Environment Scan
Resource Audit
Long Term Vision and Goals
Strategic Directions
Organization Design
Management System
Implementation
Resource Audit
Resources available
Knowledge and Information
Physical Infrastructure
FinancesHuman Resources
• Secretarial Audit recommended by Parliamentary Committee
• National Company Law Tribunal ( NCLT )
• New departments like Taxation, Risk management, HR, Project Finance, Internal Audit etc.
• New areas/ sectors in addition to legal and finance like IPRs, Banking and insurance, FEMA, Merchant banking, Telecom, Electricity NGOs, Education, Environmental Laws, GRI Reporting.
• New recognitions like competition law, valuation, insolvency laws, revival & rehabilitation.
• Global opportunities including WTO
Opportunities
• Quality of Services
• Competition from other professions
• Fast technological changes in all spheres
• New players in education field – more options to the students
• Adapting to regulatory reforms
• Over dependence on legal recognitions
• Acquiring and retaining talents
Challenges
• Statutory recognition under Company Secretaries Act, 1980 and Companies Act, 1956
• Leader in facilitating corporate governance and compliance management
• Students’ trust and confidence
• Trust and confidence of the regulators
• Industry confidence and recognition
• Proximity to the Board and top management
• Delivering wide range of services
• Global networking
Strengths
• Infrastructure gaps
• Quality of services
• More Training in soft skills, IT skills, drafting, advocacy and managerial skills required
• Better interaction with regulators and industry required
• Practice side to be strengthened
• Need for development of entrepreneurial skills in members
• Mid career growth
• Need for enhanced involvement of senior members
• Improvement in Placement services required • • Global perspective required to be brought in.
• Quality of new entrants to be ensured
Weakness
Conceptual Framework Multiple Stakeholders and Rising Expectations
Institute Mission & Objectives
Environment Scan
Resource Audit
Long Term Vision and Goals
Strategic Directions
Organization Design
Management System
Implementation
“To develop the highest calibre professionals,
facilitating good Corporate Governance.”
Mission
24
“To be a global leader in the development
of professional specialists and in
Enhancing Corporate Governance Standards ”
Vision
Conceptual Framework Multiple Stakeholders and Rising Expectations
Institute Mission & Objectives
Environment Scan
Resource Audit
Long Term Vision and Goals
Strategic Directions
Organization Design
Management System
Implementation
“To attract the brightest of the students, transforming them into versatile highest calibre corporate
professionals by providing the best of education and training and positioning them as corporate managers”
Objectives for Students
• Strengthening syllabus
• Bringing practical orientation
• Improving teaching methodology
• Providing best training
• Focus on soft skills and personality development
Strategies for Students
“To enable members to become ‘Corporate Managers’ responsible for total compliance management and adoption of good corporate governance practices along with adding
value and maximizing wealth for the company and its stakeholders as a part of management”
Objectives for Members in Employment
• Enhancement in placement opportunities
• Continuous interaction with industry
• Diversification in new areas / sectors
• Enabling members to reach senior management positions
• Development of managerial skills
Strategies for Members in Employment
“To enable the members in practice to serve as ‘Corporate Advisors’ providing quality compliance
management, advisory and representational services in all the areas of corporate activities ”
Objectives for Members in Practice
• Continuous interaction with regulators
• Encouraging members to venture out in new areas
• Capacity building through workshops / short duration courses
• Improving quality of services
Strategies for Members in Practice
• Making ICSI a world class institution
• Enhancing brand and visibility of the profession
• Bringing global perspective at all levels
• Playing role of national and global leader in promotion of Corporate Governance
• Conducting cutting edge research
• Maintaining highest standards of values and ethics
Strategies for the Profession
Conceptual Framework Multiple Stakeholders and Rising Expectations
Institute Mission & Objectives
Environment Scan
Resource Audit
Long Term Vision and Goals
Strategic Directions
Organization Design
Management System
Implementation
• Value Added and Quality Services to Industry
• National and Global role in Corporate Governance and CSR
• Enabling members in employment to become ‘Corporate Managers’
• Enabling members in practice to become ‘Corporate Advisors’
• Diversification in new areas / sectors
• Quality to match international standards
• Enhance visibility and brand value in country and beyond
• ICSI to be world class professional education institute
• Maintain highest standards of values and ethics
Thrust Areas for the Next Decade
1. Development of a cadre of competent professionals;
2. Improvement in infrastructure with special attention on Regional Offices
and Chapters;
3. Making ICSI the best institute to deal with;
4. Providing best training to the students;
5. Continuous interaction with regulators and industry;
6. Enhancement in placement opportunities;
7. Improvement in visibility of the profession;
8. Increasing membership strength;
9. Enhancement in financial resources; and
10. Providing leadership on global map
Top 10 Goals for next 4 Years – Rolling Plan
• Action plan to implement strategies have been formulated mentioning the time period and the Committee / Dept. of the Institute responsible for further planning and action on those strategies.
• The respective Committees/ Dept will regularly review those actions and report the same to the Council.
• Vision Implementation Committee is proposed with fixed term of 3 years
• Meeting of Council held in Nov./ Dec. every year shall review the progress of Vision 2020.
Action Plan and Implementation
Thank you
Ravi Kastia