The board is responsible for oversight. This includes risk management and compliance. Regardless of the type of the company, failure to comply with the laws and regulations of the land presents serious risks to the business. The board executes their role by effective application of the ‘tools of the board.’ The first tool of the board is a risk policy. The board’s risk policy provides for the formulation of the enterprise risk framework or strategy which also articulates the risk appetite and the risk management process, including providing for risk register. In Uganda, MTN spent the bigger part of March…
The board’s role in corporate governance
The board is the top most decision-making body. It is accountable to the shareholders or the owners of the business. Its primary roles are two-fold; provide effective oversight and going concern. The oversight role entails effective enterprise-wide risk management and compliance. The board must ensure the organization is sustainable for the long term. Any anticipated events or risks which could take place and stand in the way of the organisation growth must be proactively identified and taken care of. Take the case of MTN Nigeria scandal. In 2010, Nigeria Federal Government through their communications commission required all Mobile Network Operators…
Getting a board appointment
There are no announcements for board appointments. One will ask how companies find the people to sit on their boards. Getting a board appointment is all about being identified as an outlier in your respective profession than being invited to apply for the position. This is not a job with specific responsibilities, which when you fail to perform they sack you or subject you to performance improvement. It is an obligation to commit time and resources to provide oversight and when you fail to deliver you risk being sued. To become a board member, it requires someone who is already…
Why it is important for families to intermarry
Intermarriage is good. It facilitates diversity and mixing up of different genes to deliver something unique. The practice of marrying beyond boundaries, tribes, races or families is fantastic. A country like Australia has survived because of many people from different parts of the world settled there. US has succeeded because of immigration. People came from Africa, Russia, Europe and intermarried. The results were an intermix of races gave to the birth of future geniuses who have redefined the world we now live in. Of course, there are races like the Jews and Arabas, among others, who have defied all odds…
How to win a job where 500 people have applied
First, why would a person in their right mind apply for a job where 500 applications have already been submitted for the same job? If you go to drop a CV and find 500 before you have already applied, don’t leave your application there. Stop dreaming and get serious about your career. Always be the old man out. That should be your focus. Don’t follow the crowd. Don’t go for the road most travelled. Look for the road less travelled. Even for the road most travelled, make sure you take a different path. Take a case of a typical African…
How can Interns get confirmed at the workplace?
The biggest challenge is always how to put your foot on the door. Once you go past that challenge as an intern, it is your best opportunity to shine. That is why I am always very concerned whenever I see a person who worked as an Intern somewhere and was not retained. Once you get an opportunity to work in any company as an Intern, begin exploring opportunities to get retained. It is your business to know who sis who in the organisation. Know the office cleaners. The personal assistants of the bosses. Their family and friends. Know their hobbies…
