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NGBA begins 3rd B.L.A.S.T workshop series in Lagos

NGBA begins 3rd B.L.A.S.T workshop series in Lagos

The Nigerian-German Business Association (NGBA), a not-for-profit organisation comprising of over 400 Nigerian and German owned business enterprises, recently commenced the 3rd edition of its quarterly workshop series tagged “B.L.A.S.T. (Business Leadership and Strategy Training) at the NGBA Secretariat in Victoria Island, Lagos.

The workshop which has its theme “Improving your organizational effectiveness”, is a four-week workshop training series designed to cover core business areas that pose a challenge to business administrators and entrepreneurs in corporate organisations and business enterprises and to enable participants update and enhance their organisational effectiveness with practical skills and knowledge.

Declaring the workshop open, Director General, NGBA, Ms. Jennifer Anoyika, informed the participants that the workshop has become more relevant than ever in the light of the current national economic outlook. According to her, only businesses whose administrators are well informed and have structured their businesses appropriately would to reduce losses and optimise productivity in this tough conditions.

“This series is more vital now than when we started. The importance of it (the workshop) is high now. Businesses, be it that of renowned companies or start-up ventures have either collapsed or are going through turbulent times.

“Therefore, there is no better time actually than now to do this training because the only people that would get through this economic turbulence are those that are informed and have built a certain amount of resilience in either their place of work or in their business,” Anoyika said.

Delivering the keynote paper entitled; “Good Governance and Sustainability” on the opening day of the workshop, Managing Partner, Marneth Consulting, Mrs. Martina Amadi, said the principle of good governance for businesses both in the public and private sector matters and should be strictly adhered to as its implementation can either positively or negatively affect in entirety, the business environment of a country in which a company or an entrepreneur operates in.

According to Amadi; “The growth of every environment depends among other things, on the quality of the business environment. Hence, the overall set of policies that affect the starting up and running of businesses like tax laws, regulations, macro-economic indices and how they are implemented is very important.

“A good business environment leads to more investment which leads to faster growth. When we have good governance, policies are enhanced and implemented but with bad governance, most of the policies designed have minimal influence, and even when they are implemented, they don’t come to light because of the issue of sharp practices which comes along the way and destabilises everything achieved.”

Making reference to the downfall of renowned U.S. company, Enron Corporation, in December 2001, Mrs. Amadi disclosed that majority of Nigerian companies, just like Enron, are systematically crumbling as a result of sharp practices despite their perceived business successes and the intellectually acumen and diligence of the company’s workforce. She therefore advocated that proper structures and processes are put in place in order to ensure ethical values, administrative independence, and integrity in an organisational set-up saying; “In all, processes should be properly in place for good governance to be attained.”

Mrs. Amadi also decried the low level of regulatory compliance in Africa, especially in Nigeria, attributing it to issues such as ownership structure, operating environment, and incessant government policies. She therefore called for the relevant stakeholders in both the public and private sector “to improve” on the regulatory process.

In his submission, Director, Tax, Regulatory, & Advisory Services, Saffron Professional Services, Mr. Godwin Oyedokun, while giving the senior expert charge, advised business owners and holding companies of projects to always synergise with their administrators and caretaker managers in order to avoid an “agency problem.”

“The owners of a business are not necessarily the ones running it. So they hire the crux of erudite scholars and management gurus to run the business for them. The relationship between such people is called principal-agency relationship which most times brings about what we call about agency problem.

“One of the issues with principal-agency relationship is that you as a manager may not represent the interest of the owner very well because you want to protect and manage your own interest. What about that of the owner? Balancing the interest of these people is very important because they are the key to the running and success of your business,” he said.

The NGBA B.L.A.S.T. workshop would continue on February 11 with the second module focusing on the importance of effective administration and office management while on February 18 and 25 respectively, the decision making techniques and marketing needs of businesses completing modules three and four would be discussed.

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