They say the fish starts rotting from the head. And that the ‘bottleneck’ is at the top of the bottle. All these points to the fact that successful companies have good leadership. The board is the topmost decision-making board in the organization. In 2019, I wrote my second book, “7 Tools of An Effective Board Member.” It does not matter what level you are, grab a copy from Amazon or Aristoc and read. You will transform your leadership skills. It is full of great personal stories and lessons at the frontline of corporate governance as a trainer, board member, and…
The blind spots of a traditional agenda
How effective are your board meetings? Is your board still operating on a traditional agenda or the modern one? The traditional agenda emphasizes the historical performance of the business, past successes and bad decisions. The minutes of the previous meeting, the reports from management and executive director’s report – all tend to focus on presenting the past performance of the organization, with limited information on the future agenda or how to influence it. The highest decision-making body of the business should put more emphasis on the future of the company because that is where it is heading. Who is the…
Bill Gates passes on the Leadership Torch
Entrepreneurship is about preparation. Laying the foundation for success and being ready for the big break. As they say, great things happen when opportunity meets preparedness. Bill Gates, Steve Jobs, Jeff Bezos, and many more great entrepreneurs prepared and continued laying the foundation and opportunities moved their way. Microsoft’s turning point happened in 1980 following IBM’s acceptance to sign an agreement with Microsoft to build an operating system we know today as Microsoft Disk Operating System (MS-DOS). From that time on, any IBM computer, had MS-DOS preinstalled. They provided a ready market for Microsoft. This was a bring break. It…
Is a chairman higher than a CEO?
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…
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…
