 In the last session, we were talking about the sociological theory and today we are going to take it forward with another theory which is quite similar, but again has its own distinctive features and that is the resource dependency theory. Now, ladies and gentlemen, like we were looking at the sociological theory and we were talking about equity and we were talking about fairness within society and the distribution of power and wealth in a better way. Now, when we look at the resource dependency theory, then again from its very name we see that it is about resources and how the organizations are dependent upon those resources and how we can see resources beyond financial resources. So, ladies and gentlemen, let us look at this from a more articulated way on the slides and we can see the resource dependency theory and then we will go into a discussion. So, when we are looking at the resource dependency theory, then it concentrates on the role of board directors in providing access to essential resources and it focuses on the appointment of representatives of independent organizations. Now, ladies and gentlemen, these are two very important points and features of the resource dependency theory. Usually in organizations, we are just looking at finance, we are looking at stocks, we are looking at infrastructure, we are looking at human resource and our employees and their knowledge, skills, competencies and their abilities, we are looking at technology, we are looking at raw material. So, we usually think that these are the resources, but a very, very important resource is also our board of directors. Now, if we have a more diversified board of directors, then those diversified board of directors can also become ambassadors, can also become catalyzers, can also become magnets, can also become facilitators, can also become propagandists who can provide and provide access to essential resources and how is it done? It is done by basically appointing representatives of different organizations. So, when you have representation from different organizations and let us say that there is a company A and that company A has a board of directors which is very diversified and represents, for example, let us say the legal community, let us say the auditing community has directors who come from different stakeholders, from different large organizations then they also bring along with them their own social capital and their own equity and that equity is their personal equity because they are well networked, they have the contact. So, they can always assist the organization from a legal context in a better way to do different work because through their resources and through their network, they are able to do that. There is a study by Harvard University which basically states that the success depends on 40 percent on networking. So, now in the modern 21st century, it is about networking and networking again is how you have contact and therefore, the board is very, very important and critical to be diversified, to have such a texture whereby it can access multitude of resources due to their connections, due to their network, due to their social capital. So, that is very important. Now, let us see how we can further look at it in a more integrated way. So, let us look at it from a more intense context so that we can see what are the different elements of the resource dependency theory. So, when we are going to be looking at that, then we basically see that representatives as a means for gaining access in resources critical to firm success, the provision of resources enhances organizational functioning, firms performance and its survival. So, ladies and gentlemen, when we are talking about this board, this board becomes very critical. It does not go into the tactical operations of the organization. It is providing strategic input, but it is going a little bit beyond strategic input whereby it is ensuring that wherever they can, they can provide better alternatives, they can provide better resources, they can provide better connectivity, they can open closed doors and close windows, they can create a network for the management of the organization which would actually enhance the organizational functioning, would enhance the firm's performance and also ensure its survival through a longevity approach. So, that is very, very important, ladies and gentlemen. Now, let us look at the different type of directors or different type of representation which can be in the board whereby the organization would benefit from that diversity within that particular board. So, let us look at that. So, when we are looking at that, then we see that directors can be broadly classified into four categories. First, the insiders. Second, the business experts. Third, the support specialists and fourth, the community influential. So, let us now tend to further elaborate on these four. When we are talking about the insider, then we basically mean that they should be a representation from within the organization. Now, that is also very important because that insider would be able to give a critical overview or insight to the rest of the board directors. So, that is a very important position and that insider basically also creates a bridge between the board and the rest of the organization because that insider is conversant and tends to comprehend the fabric of the organization, the environment of the organization, the nuances of the organization, the tendencies and the various pros and cons within the organization and therefore would be able to mold the board in a far better way to become more responsive to the real needs of the organization. The second type are the business experts. Now, these business experts definitely have their own areas like I was mentioning. It could be finance, it could be audit, it could be law, it could be procurement, it could be a specialized sector approach whereby these sector experts who have a good reputation within the market, they can also become directors because they would be able to influence that particular sector for the betterment of the organization. Now, the third type are the support specialists. Now these support specialists could be policy makers, could be strategists, could be experts in a particular area for example, could be a Kaizen expert, could be a resource expert, could be an expert in procurement. So these different support specialists are also very important for any board or organization in the context of this resource dependency theory. But a very, very important one is actually the fourth one, the community influencers. Now these people are very critical to any large organization and any large organization should have a community influencer within them. These advocacy experts, these political experts, these community experts are very, very important because they are able to mold the opinion of a particular community or a particular society for the benefit of the institution. Now, this is not manipulation, it is again how they represent the organization to give the community a clear and better picture whereby rather than creating dissension or rather than creating animosity or rather than creating conflict, actually all of that is basically streamlined into a better relationship of the community with the particular organization. So this type of diversity is very, very important. These four broad categories basically represent a better board, a more resource dependent board, a more involved and embedded board, a more responsive board, a more compassionate board, a more empathetic board. So this model again in the 21st century is very important and ensures the consolidation, the reinforcement and the longevity of an organization. Thank you so much.