That's why Woolworths chairman Gordon Cairns is among a number of ASX 200 leaders who have thrown their support behind quotas.

"I'm not a believer in quotas," Cairns says, before adding, "if we don't improve the numbers then there is no other option. But we should give ourselves to 2020 - if we haven't achieved the appropriate number then we deserve quotas."

Another supporter is Scentre Group chairman Brian Schwartz: "Are quotas the be-all and end-all. No, they aren't. Would it serve to push things along at a much faster rate than we are moving now? Yes."

Then there's Margaret Jackson, who recently stepped down as chairwoman of Spotless Group due to ill health: "I never used to believe in quotas, but now I say why not?... I think you should go further and say why shouldn't it be 50/50?"

These views are expressed in a new report by the 30% Club based on in-depth interviews with chairmen and chairwomen from 53 ASX 200 companies, which as of August, had at least 30 per cent female directors.

There's still many business leaders, including those interviewed in the 30% Club's report, who remain vehemently opposed to change being forced. Quotas, the detractors argue, would mean people do not get appointed on merit.

Of course, real-life examples prove that's just not true.

Quotas have been successfully implemented in a number of European countries, most notably Norway, which since 2008 has required least 40 per cent of women on boards in publicly listed companies and state-owned and municipal companies.

Quotas were initially resisted there on grounds that it would be hard to find qualified women and therefore quality decision-making would be impacted.

According to an OECD Economic Survey of Norway conducted last year, about a third of the 563 concerned companies delisted upon the introduction of the sanctions.

The government subsequently pulled together a database of qualified women and introduced training programs for female candidates.

The result? Peoples' fears about women being unqualified were proven wrong.

"On average, female board members in Norway have higher educational qualifications than their male colleagues," the OECD survey said.

While most of the chairs interviewed in the report were optimistic that the number of women on ASX 200 boards will surpass the 30 per cent target in the next few years, there are still 14 boards without any women and only eight female CEOs in the ASX 200. The situation is even more dismal in smaller organisations.

Business leaders are beginning to see the value of having women on their boards. ANZ and Coca-Cola Amatil chairman David Gonski says: "Sameness is the most dangerous thing around a board table".

Telstra chairman John Mullen says in his experience "men tend to be more set in their ways...The women I have worked with are more ready to challenge their own assumptions".

But having diversity targets on their own don't lead to better board performance.

The culture of the organisation from the top-down is what matters. That starts with boards appointing the right CEO: "They need to be really committed to it [diversity], not just reading the lines," OZ Minerals' chairman Neil Hamilton says.

For the organisations that have hit 30 per cent targets, everything from the recruitment process (seeking evenly-female short lists, ensuring evenly-female recruiters and removing biases in questions) to workplace policies (such as flexible work and paid parental leave) to supporting and promoting women gaining the necessary skills to move from managerial roles to senior executive positions, made a difference.

If all these factors come together, 50/50 gender parity is no longer a dream. And quotas are no longer a threat.

Follow Nassim Khadem on Facebook and Twitter.