Director or any person in a position of responsibility commits a sin of lack of duty of due care when they fail to demonstrate the competence expected of them as directors or staff in their respective jobs. A director must not only act in good faith but also “with such care, including reasonable inquiry, as an ordinarily prudent person in a like position would use under similar circumstances.” Someone says they are qualified, but they fail to act with due care and lead to business losses. Take a case of a car mechanic opening the engine and after fixing the…
Are you proud of your brand?
There is not a great salesperson who became so selling a product they don’t admire, love and believe in. Once you see people being ashamed of being identified with a particular brand or product, know they cannot sell it. You cannot say you love Uganda when you even don’t know its Anthem! You cannot claim to be a proud Munyoro when you have never visited Karuziika, the seat of the throne. Obviously, you cannot claim to love the Kabaka, when you even don’t know where the Buganda Palace is located. Action speaks louder than words. Once at a strategic meeting,…
#Mindspark 7: Where are you playing?
Your most pressing issue is “Lack of money due to lack of a well-paying job.” Now define the key elements of your strategic intent by completing the strategy cascade, as defined in the “Playing To Win” Book I shared in Mindspark 3 blog post. The identified strategic possibilities to solve the strategic challenges are below. Possibility 1.1. Upskill – enroll on an MBA (assuming you have the first degree only), and start by teaching at University. Possibility 1.2. Start a small business and work hard. Possibility 2.1. Position as a top AI & Robotics lawyer in EA (or any such…
Sins in the boardroom – conflict of interest
Failure by directors to disclose conflicts of interest. And when appropriate disclosure has been made, failure to deal with it. Conflict of interest is a great sin indeed. And in Africa, the leading cause of poor road works, incomplete projects, substandard projects. Procurement fraud, especially no value for money delivery. Disclosure nowadays is no longer an adequate safeguard to conflict of interest. Just resign from the role. Have you ever served on a board where some members were conflicted? How did you address the issue even after disclosure? In many cases, the disclosure works like marketing “this is my thing,…
What is the least common method to appoint directors to the board?
A reader asked me this question. First, I explore who chooses the board of Directors. Then common methods they use to chose. And finally, answer your question-the least common method used to appoint board members. I hope you did not ask this question to hide so that no one chooses you! I will help you. Just do not be an outlier in your profession. Be a mediocre. Let no one read about you or quote you. Be a mediocre in your profession so that you are hidden from the public eye. Appointment of directors depends on the type of the…
#Mindspark Friends, my book challenge starts today.
The purpose: spark your mind. Are you ready to grow in 2020? Learn someone thing new weekly. You will be so far ahead in 52 weeks in 2020. Every week, I will share a new title for you to read. Every Friday at 8:00 pm, I will provide a brief summary of the book. You are free to ask any questions. Do you know that over 70% of the people who buy books never read them properly? Some do a quick perusal. Others just put it on the table next to the TV remote and never open the book. Every…
