“I Want to Utilize my Years of Experience to Add Value, & Won’t Let it go Waste”: Shatarchi Varma
On Transition to Certified Independent Director
Mr. Shatarchi Varma, could you please share what motivated your transition from a marketing professional to an aspiring independent director?
Shatarchi : What motivated me –The purpose of life on Earth, is to build something, do something worthwhile, which is of value to future generations. Each generation builds something better…and “in addition to”….than the last generation…that is progress! So what we build…and pass on to the next generation…that is the only legacy! The rest is all left behind. I have accumulated a wide variety of experience and skills, and it would be wise, to put these to good use…for as long as possible. I am a firm believer to keep working & contributing to society.
- Areas of contribution — Corporate Governance (proactive) / Compliance / Sustainable growth and Strategic direction. Out of my 36 years of Work Experience, with 15 years in Senior Leadership roles…I am working for V-Guard, for the last 6 years. The organization and our people take pride in the Ethical, Compliant, and Employee friendly approach within the Organisation. It has deeply influenced my thinking and style. I believe — We can push ahead with “high growth, in a sustainable manner.”
On Strategic Marketing Insights
How do you believe your experience as a Senior Sales & marketing professional, will contribute to board discussions, particularly in guiding companies towards sustainable growth and customer-centric innovation?”
Shatarchi: Sustainable growth & Balancing all stakeholders’ interests — In a competitive landscape…One entire “Value Chain” competes with another Value Chain. From vendors to manufacturers to Channel Partners to customers… everyone in the chain needs to not only survive…but be sufficiently profitable…to “sustain and compete”. Even if one small link of the chain…experiences difficulty, the entire chain can get disrupted. Therefore, every stakeholder of the company…who is directly or indirectly attached to the organization…needs to be nurtured….in a sustainable manner.
- Competitive advantage through Customer-centric innovation — “Customer is king” …or “Queen”…she decides everything for the Organisation. It is only because “She buys”…that the Organisation goes forward. Therefore, if all decisions within the Organisation are taken “with respect to the customer”…. can we ever go wrong? All innovations…all pain points of customers…need to be addressed.
On Leadership and Vision
Could you elaborate on your leadership philosophy and how you envision applying it within a boardroom context to drive ethical governance, innovation, and stakeholder value?
Shatarchi- Crafting a Compelling vision– I try to create a “Buy-in” with the team. This is very important…since a “shared vision” is a compelling way to “align the team” and work towards a shared goal.
- Willing compliance / creating a buy-in first — As I mentioned “a shared vision” gets a better “willing compliance” from the team members.
- Getting the best out of people — It is always good to work with people who are “self-motivated” or “inspired”. Therefore, making well-defined goals…what we call “SMART” Goals…and the road to their achievement…needs to be made clear. If this exercise is done…keeping in mind…. the “least qualified” or the “laggard” member of the Team…we can push ahead at a better speed…together.
- Managing Crisis with a hands-on style — In a crisis, I believe in “Leading from the Front”. Let there be no second thoughts in the team…that the Leader “shies away” when the going gets tough!
Challenges and Opportunities
From your perspective as a senior marketing professional transitioning to an independent director, what are the most pressing challenges and opportunities facing boards today, particularly in leveraging digital transformation?
Shatarchi: Marketing has taught me Resilience — One of the basic lessons…learned early-on…in Sales & Marketing is to…. try and try…. until you succeed. It makes you persevere. It then becomes an ingrained habit…never to give up!
- Self-driven — The “view from the Top” is very lonely. There are very few people who can guide or motivate you. You need to be self-motivated and take initiatives yourself.
- Own independent view on analyzing the situation — Over the years, I have developed a knack for analysis based on data. Sometimes the data may not be complete…or available timely. Especially in “newer circumstances” …when an important decision needs to be taken…and very little data is available, then one has to rely on one’s experience…and intuition…acquired from years of experience. There is no substitute for that invaluable experience!
- Disruptive tech & proactive thinking for the strategic shift — This is the day of disruptive Technology…and disruptions have become the “order of the day” …this is creating / adding to the “VUCA environment”. One needs to “think proactively” and work on strategies to mitigate the risks.
- AI causing disruption in a major way– AI especially “Generative AI” is creating upheavals…both in terms of “making many jobs redundant” and changing landscapes frequently. The way we are now able to target customers. “individually & specifically” … using Digital Marketing…is a “fundamental shift”. Recently we had the Google Team making presentations to us… on “how customers are now targeted” using data….on their “preferences”… and “social media” used by them….which products are relevant…etc. This is a big change from earlier days! This “Specific targeting” has been made better with the use of AI. It allows Marketeers a “more productive” use of their resources…than the “blanket bombing” approach used in earlier “mass media campaigns”.
- Digital Mindset and aligning the micro with macro — Each piece of Information is captured and suitably fitted…to arrive at an overview picture. This is not only true for financial data but also for Customer trends.
- Executive management — enhancing the speed of decision management of the C-suite by using real-time data. — Gone are the days when one had to prepare charts and mass of data manually or on Excel sheets to show any relevant trends / analysis. Now BU apps give all kinds of views…on the mobile…at any time of your choice…on the go!
- Oversight & using DSS — speed of decision making — Thanks to DSS (Decision Support Systems) speed of complex decisions has become better. Going forward, generative AI is going to present not just data, but also “possible scenarios”…and “suggest the decision with the highest probability of success”.
- Digital dexterity — Digital is the “only way forward”, one has to be “digitally hands-on” to be able to function in this age. Gone are the days…when people could give their log-in and passwords to subordinates….to complete sundry jobs on the laptops. Now a hands-on approach is required to complete…not only simple approvals…but also more complicated decisions involving approvals / deviations / modification / rework, etc….also “delegation without understanding technology” has its drawbacks! Different levels of data security have to be taken into account….we can no longer be complacent on that…for our strategic business goals. We can no longer be “Digitally Shy” in this age…
Emerging Trends in ESG
What are the emerging trends in ESG in India especially corporate governance?
Shatarchi: SEBI pushing for enhancing ESG best practices — Slowly but surely “best global practices” are coming to India. We shall need to willingly embrace these requirements or lose on the benefits. Compliance with regulations is a necessity. Being proactive in this approach to the future shall yield better dividends, by making the Organisation “Future Ready”
- Future-proofing organization — Risks associated with ESG are a reality. In the near future, regulations may be framed and compliance may be required. If we can proactively mitigate these risks, we can make the Organisation “Future Proof”
- ESG scores — These scores especially by an independent Third-Party Agency becoming more and more important. More and more customers are favoring companies having high ESG scores. Suppliers with high ESG scores are looked upon as more “reliable”.
- Increasing consumer consciousness — There is “no planet B”. Slowly but surely the recent severe Climatic disturbances across the world have demonstrated the urgency required to tackle the factors adversely affecting Climate Change. This increasing consciousness worldwide is driving….a louder and louder voice….towards more “Sustainably approaches”.
- Prosumer (researching customers) — With the penetration of the internet and the “variety of information available to a customer”, the number of customers researching before buying a product or service is growing. Google research, shows that we need to convince this prosumer….during her phase of research….otherwise, we may not be in her ”Consideration set”…when she makes a purchase decision! There is, therefore, a need to target, and “convince this Prosumer while she is doing research”, otherwise we may miss the bus !
— — — — — — — -
Brief Profile
Shatarchi Varma is a Senior Management professional with a rich three and half decades of overall experience, with 3 Decade experience in Business Development, Sales & Marketing, Channel Management and Key Account Management in DTH, Automobile & Consumer Durable Industries. He has also worked for 7 years in MSME sector.
He is also a IICA-MCA Certified Independent Director, and member of Institute of Directors, India.
