Stakeholders is King
IVC exists because there are veterans and IVC also exists because there is a valuable customer who drives the company revenues.
The Stakeholders form a vital neuron network due to digital connectivity opens multiple feedback channels for transparent corporate governance.
Leaders have a role, are competent, well behaved and have fiduciary duties. While the rule for engagement of leaders and individuals who will form the core of organization will remain avoidance of conflict of interest, affiliated interest shall also be considered where by association with the core business of such ESM who step out to offer their existing infrastructure shall be considered an asset where factors are conducive. We are looking for Leaders in all military stations for basic survey & preliminary cost analysis for commercial viability in each station. This role shall be voluntary and and remunerations to commence with raising.
The Organization will measure performance through financial targets, asset accrual, risk analysis and monitoring, strategy development and stakeholder approvals. The executive team selection, appointment, evaluations, successions, remunerations and diversity shall drive management engagement and relations. Governance as a culture, transparent reporting framework and compliance will remain the key to delivery of service to the customer.
Boards & Governing Council
Boards are vital in shaping company policy through direction with supervision and advise. Its structure, membership, selection, appointment, performance and succession rules. dynamics on respect and diversity, competencies, legal compliance and audit are key areas of interest.
This senior level management of the Governing Council and Boards will be on post performance remuneration basis, till company operations are fully funded. To apply for inclusion in various technical boards and the Governing Council, click the link below and send in your intent for the new raisings.
Please scroll down below to see how the Governing Council will be selected.
Selection of Governing Council & Senior Management Team
1. All registrants who have booked a share will be requested their willingness to participate in the Governing Council.
2. Interested registrants will be requested to to submit their profile in an objective format, probably online. Format to be formalized.
3. The list will moderated to remove identification marks as to who’s who, and their specific qualifications will be highlighted.
4. The moderation of Profile will be done by three Committees of Host Members independently. Verification of Profiles to be done. Detailed modalities to be suggested.
5. The moderated profile shall be circulated to all the Registrants for their recommendations of nomination to the Governing Council.
6. The same list will also be circulated to a panel of experts from the Industry and acamedicians. Host Committee to identify the panel of experts online.
7. Best fit recommended profiles will be circulated to all members for a final comments. Comments to be vetted by a Hosting Group Committee.
8. The Selected Members will be intimated about their selection in the Governing Council.
Operational Mode of Governing Council
1. Governing Council will operate on an anonymous digital platform. Software under deliberation.
2. GC members will be requested to keep their own selection confidential. Honour Code.
3. GC members will submit their recommendations on the way ahead on the platform and debated. Preferrably on an objective manner so personalities are not revealed. Working modalities to be worked out but generally, by voting.
4. Host Members to pay their share of Equity & Deposits as founders. These will be at par, and include costs upto incorporation and two month’s salaries of Executive Committee (EC).
5. GC will select the EC (CEO, COO, CFO and secretariat) from applications to be sourced similarly, from within the Members / from the public after an advertisement in the media. There shall be no mandate to select ESM only.
6. EC will engage the company secretary, CA, Legal & Compliance. Only under this clause can ESM be mandated since these are professional services, however, EC will still have mandate to decide.
7. EC will incorporate the company. Decision on place and location to be deliberated by the Members with detailed justification on logic of why a place it to be selected as HQ of IVC.
8. GC will identify Business Verticals to be launched in Phase 1, generally as follows
(a) Businesses that will yeild safe and immediate revenues and
(b) Businesses that need capacity building for generating revenues in mid term.
9. EC will prepare Detailed Project Reports on identified businesses and share with all Members who have booked equity.
11. Members will be requested to confirm their Booking of Equity Shares and placement of Deposits.
12. EC will source gap funding through :
(a) Angel Investments from Members and Industry Angels.
(b) Venture Capital.
(c) Term Loans.
(d) FDI / ECB.
13. Launch Projects.
14. GC to provide Direction, Supervision and Advise.
Remuneration for GC and EC
1. GCs will be entitled to remuneration to be paid as either of the two options to be exercised before their engagement :
(a) Sweat Equity (converted into Deposits at a premium)
(b) Cash paid out when IVC projects gives profits at par.
2. ECs will be engaged on regular salaries as decided by GCs and standard market norms.
Governing Councils of Independent Verticals
1. Selection on similar lines of IVC Core GC.
2. Operations on Similar Mode of IVC core GC.
3. Vertical GC to operate as subsidiary of Core GC.
Artificial Intelligence and Machine Learning in Corporate Governance
Boardroom decisions may be made with little data analysis and, perhaps, gut feelings that overides experience. Sometimes, human mind is susceptible to inception and mental obfuscation.
But today, artificial intelligence and machine learning in corporate governance, board members’ decisions can be based on the analysis of corporate patterns and industry trends through augmented intelligent guidance.
Data-driven decisions supplemented with AI will improve capital allocation, disbursement of funds, investment guidance based on industry patterns, and risk management and also forecasting the outcomes of corporate lawsuits. Therefore, enabled GC will even be able to predict government pushback, enhance operational efficiency through to mergers. The competitive advantage of integrating artificial intelligence machine and deep learning in corporate governance is the way ahead.
Risks and Challenges
AI provides new and advanced capabilities, but it also poses unique risks. Because AI is programmed by humans, it is still subject to a certain degree of human error and bias.
One key challenge with AI programs is that they can be a “black box,” making decisions where the underlying logic is not transparent or discernible to users—and sometimes even to programmers. This is because the logic programmed into the software (the algorithms), is not designed to produce an exact outcome. This lack of transparency poses significant risks to companies when AI produces an outcome that is undesirable or cannot be explained.
AI’s autonomous nature poses issues when it can make decisions using personal data—especially if people are not aware that their data is being used by AI, or if they do not trust the technology. Biased data might also train AI towards biased actions and pose risks which must be understood.
AI technologies are also exposed to hacking. These risks are compounded when companies do not have transparency in their AI’s logic and cannot detect that the program is not performing as intended. These risks may be innocuous, such as implanted bias, or at worst they may endanger human life—including cases of autonomously operated machines malfunctioning. The scale of hacking risks can be very large in the case of malicious infiltration of AI used to manage large systems and assets.
What Does this Imply
Governing Council should be aware of the risks and always place human mind in the forefront and use AI & ML only to augment decisions rather than accept back box solutions. This approach is always going to pay rich dividends.