What is your focus? How to avoid a ‘stone in the shoe’ scenario.

What is your focus? How to avoid a ‘stone in the shoe’ scenario.

You are a Director. You have a scorecard with over 50 performance areas identified for your Pillar. As the days become months which turn into quarters, you start getting anxious. The year is moving fast, yet all the scorecard performance areas are still outstanding. And your Chief Executive Officer and fellow directors are starting to ask questions. As the work-related pressure starts forming, you start to show some seriousness by becoming tough to your direct reports. Who, for lack of anyone to blame, tell whoever can listen “it is the Director.’

Instead of getting serious to work, it becomes a game […] Read more

Who is an entrepreneur?

Who is an entrepreneur?

You are 25 years. You have just graduated from University with flying colors. During your time at University you become a student leader. This helped you make good contacts. Some of your contacts were so good that you have already received some offers from the big four audit firms and some telecom companies even before you set foot on the street to look for a job.

You are happy, and it shows in your steps. To celebrate your achievements especially having got a job offer directly from University without having spent any time on the streets, you invite three of your […] Read more

What is the bullseye for your business?

What is the bullseye for your business?

The bullseye is the Centre of a shooting target.  The role of the leader or the chief executive officer is to identify the target. The role of the managers is to gather the bows and arrows. And thereafter shooting.

What is your business scorecard? What are the top three things you must accomplish monthly to achieve your five-year business objectives?

Get your key team members in the room. Give each one of them a piece of paper. Ask them to write down the top three things that they think the company or organization must accomplish before the year end.

Review the items and […] Read more

Only six banks have submitted applications for the ICGU CG awards, is this good for the economy?

Only six banks have submitted applications for the ICGU CG awards, is this good for the economy?

When the Institute is celebrating corporate governance, it is something everyone should be involved in. It is their opportunity to shine. We know that Financial Institutions mainly banks, and insurance companies are one of the most highly regulated entities. If they are regulated entities, when it comes to any award that is awarding compliance, these institutions should be at the fore front.

There is a Financial Institutions Act which provides minimum benchmarks for anyone to run a bank. It also provides for the appointment of the board, and how it should run the business. The Central Bank vets board members who […] Read more

ICGU Corporate Governance Awards 2018

ICGU Corporate Governance Awards 2018

The Institute of Corporate Governance of Uganda (ICGU) has organised the first Corporate Governance awards that will take place on 17th May 2018 at Kampala Serena Hotel. This is one of the key milestones happening in the country. We will be celebrating the best corporate governance practitioners.

As the secretary of ICGU, corporate governance is key to a company’s success. Any organisation in Uganda must participate because it is an opportunity to put your corporate governance practices to the test. There are so many organizations that have put boards in place but are doing things which do not necessarily add value […] Read more

How to evaluate the board’s effectiveness

How to evaluate the board’s effectiveness

To effectively evaluate the board, you must have set targets against which you are evaluating the board members.

This calls for an effective governance structure and separation of powers.

At the topmost, there must be the owner of the business. For publicly listed companies, these are shareholders with an equity certificate. The shareholders, at the AGM or annual general meeting, must elect the board members and set clear targets for the board so appointed.

For emphasis, when the owner/ shareholders appoint the board, she/he must give them a score card or targets that are measurable. According to Kaplan and Norton, a balanced scorecard […] Read more