Yes. The Board of directors must work in the interests of shareholders. For this to happen, shareholders have a final say in the board’s appointment. Board members provide oversight and strategic leadership to the business or entity on behalf of the owners. The issue is how are board members selected. Many boards have a nominations committee. Usually, this committee proposes candidates for board appointments which the shareholders elect from. For example, if one vacant board position is available, two or three names may be nominated for the shareholders to select from. The problem arises if any shareholder asks how the…
What do employees want? How winning companies are adopting
#covid19 has been an eye-opener. For one, it is demonstrating that maybe the government does not need all the employees to function effectively. And at the end of the day, health and safety. So, why is the government budget still low on healthcare? That aside, I have learned from my team and our clients that employees want the following: Better pay. Even if the pay is small, provide it on time! Flexible working hours Opportunity to develop skills Work that is challenging and aligned to personal interests Respect Work-life integration Better pay, and on time It is lockdown time and…
Insights for a new SME establishing a Board of Directors
Are you an SME considering good governance? The starting point is to set up a Board of Directors, regardless of your size. Research by top experts and thought leaders at Harvard and other leading universities say that companies that are well-governed consistently outperform those that are not. One of the qualities of effective governance is having in place a board of directors that provides the roles of oversight and going concerned over the business. As an SME intending to set up the board of directors for the first time, where and how do you start? Here are some questions to…
Wake up early and do house chores: Qualities of winning children Part 3
It means that you must wake up early at exactly 5:00 am and help your parents’ mop the house Fetch water and sweep the compound then you go to your study room if you have, at exactly 6:00 am, you get all your Textbooks and revise then at 6:30 am you cook food for your parents and wash your clothes at 7:00 am and make your time table. Then at 7:30 am you go to the kitchen and help your mother prepare the breakfast for your family then at 8:00 am clear the table after eating you go out in…
Nowhere to hide: Chapter 1: Are you a lawyer? Part 3
“Sorry for keeping you waiting. My flight was on time. But the road trip from Entebbe airport to this hotel is a long one. The Express Way is so swift until you arrive somewhere near the city. It is a deadlock. We could not move. The journey is exhausting. I had to first take a shower and realized that our appointment time is past”, he says as he squeezes my hand hard. Continued from part 2… In our kind of work, we are not allowed to show any weakness. I too, hold him firmly as I welcome them to Kampala.…
Chapter 1, 3tools, Five secrets to your financial independence, tool 1
“Many people think you have to be very intelligent to be successful in life. Exhaustive research shows that many self-made millionaires have only average intelligence.” –Brian Tracy. To succeed, you don’t have to make a million dollars annually. You need to balance your five Fs to a worry-free life. Some people have the million dollars but they are not yet successful. As you grow, you realize “success” is a moving target. It is not easy to hit unless you reflect and change your mind about what success means to you. Other people’s definitions of success should not drive you. Otherwise,…
