Yes, in perceived terms. In real terms, no. The corporate structure is based on a chain of command from lower management levels to most senior. Level 0– top most level. Shareholders or founders level. The people who appoint the board of directors, who are headed by the board chairman. Often times, the founder may and can appoint himself or herself on the Board. In America, it is common. Level 1 —Board members. The people who run the business on behalf of the founder or shareholders. Ideally, shareholders appoint board members required. And on their first sitting, they elect their Chairman.…
Is cybersecurity advice valuable to a board of directors?
Of course, it is. I recently delivered a talk to the Board of Directors of a major, not for profit organization in Africa. I was surprised at their basic appreciation of the cybersecurity risk management strategy. Compared to Bank Boards, Not for Profit Boards don’t invest a lot in learning new and emerging business risks as their counterparts in financial institutions. Nevertheless, all board members need ongoing advice on cybersecurity. Competitive advantage today is through a company’s ICT infrastructure investment and optimization. Without a robust ERP system, for example, your Company is at a competitive disadvantage. However, automation comes with…
Tool 74 of 104 is to avoid grey areas
“As he was walking by the Sea of Galilee he saw two brothers, Simon, who was called Peter, and his brother Andrew; they were making a cast in the lake with their net, for they were fishermen. And he said to them, ‘Follow me and I will make you fishers of men.’ And they left their nets at once and followed him”, Matthew 4:12-23 My brother once had strong political ambitions. Some time at the turn of 2001, he stood the position of Youth Member of Parliament, Western Region. But this was the same time the brother of a well…
Is your board in existence as a necessary nuisance?
Once I was asked by an SME owner to help set up a board of directors. When I asked why the board was needed at the time, his answer was revealing. “I want to apply for funding. I have been informed when you have the board of directors, you stand higher chances.” A board should not merely be ceremonial. It must be progressive and value-adding. In today’s technology-driven business models of ecosystems, platforms and A ceremonial board cannot win. It is for mere window dressing – to the public and partners, the company has aboard. However, in reality, the…
Is your board effective?
No board is 100% effective. But the imperfection varies. On a scale of 1 (ineffective) to 10 (effective), what is the degree of your board imperfection? Just like no person is perfect. No board is perfect. When I joined the council of ICGU, the then Chief Executive Officer, Samuel F. Owori, invited the newly appointed members for an orientation meeting. “You need to understand what everything about ICGU so that you are able to perform your oversight role effectively”, he said. For a whole day, he told us about the background of ICGU, gave us copies of key documents about…
The tragedy of parenting
What is the predictor of success in life? Is it nurture or nature? I learned a lot from my late grandpa, who I lived with a big part of my early life. He told me many profound insights. He used to say, “education does not help the lazy.” Now I know that this meant more work is after getting that degree! He was right. To get ahead, one must put in the extra effort. Have an ambition. Wake up early. Work hard by always going the extra mile. A genius may need just one hour to cover what an average…
