No business model prepared us for COVID-19 crisis – IoD boss

The Director-General/Chief Executive Officer, Institute of Directors Nigeria, Mr Dele Alimi

Now, as a director, you have the duty of ensuring that you continue to add value to your organisation and all stakeholders. A lot of people look up to the directors and expect them to make the right decisions that will sustain the organisation. So, that is the first major challenge – the challenge of being able to think outside the box.

The same thing with hotels and event centres. Globally, that sector is the worst hit, and people are still talking about how to revive it. We even brought public-sector regulators; before the airports were opened, we were the first organisation to engage the Nigerian Civil Aviation Authority. We had the DG of NCAA at one of our webinars where aviation directors engaged with him on the plans for the reopening of the airports.

We all know that without a conducive environment – social and political – business cannot thrive. I think the OPS has taken the bull by the horns and tried to do everything that they could to support the government and to ensure that at least our environment does not become too toxic for businesses to thrive.

We are preaching sound corporate governance; we are preaching that people should take full responsibility for every position they find themselves, and not abdicate their responsibility, even when they delegate to executive management. The fact that IoD has created a body of directors has impacted positively on the profession of directorship. If you are a director of a company that is employing 300 to 500 people and the company collapses, imagine the effects on the economy. So, it is a very serious position that nobody should take for granted.

What we are doing, as a matter of fact, is to make directors more responsible. Some people take some of the actions they take because of ignorance.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Digital Disruption: How Nigerian capital market leverages technology to battle Covid-19 challengesThe adoption of new technologies due to the pandemic has shown how much technology would shape the future of trading across bourses in Africa and the world.
Source: PremiumTimesng - 🏆 3. / 78 Read more »