Experts seek more CEOs collaboration to deepen involvement in policy formulation
The Chief Executive Officers (CEOs) of corporate organisations and Financial institutions have been urged to exercise greater collaboration among stakeholders to enable them explore innovative opportunities in turbulent environment.
The Co-founder of Sahara Group, Tonye Cole, while speaking at FirstBank CEO forum, held in Lagos at the weekend, said CEOs must ensure sustainability in their businesses, noting that greater collaboration enhances resource efficiency and help resist business volatilities.
Furthermore, an enhanced collaborative approach, according to him, would deepen stakeholder involvement in policy development and social networks as a resource of institutional capital through which new initiatives can be implemented rapidly.
Speaking on the theme: ‘Exploring Sustainability and Innovation Opportunities in Turbulent Environment, Cole explained that no business can ‘stand the test of time’ if the business owner fails to make himself relevant in his line of business at all times.
“To ensure business sustainability, we must remain relevant at all times, especially in the eyes of the government so that they will know that if anything happens and they pull us out, it must affect the sector.
“We must move quickly to change in policies. It is difficult to speak out when thing are moving normal, but when there is struggle, that is when you can sit down and talk with people in government and they listen to you. Many public officials want people that would provide solution to problems.
He continued: “You must know when to change tactics. In my organisation, we used the period of recession to open new markets. We changed our business module from downstream operation to supply chain management, once you changed your tactics, it =gives you the flexibility to do other things.”
The Country Manager Nigeria, Andela, Seni Sulyman said employee engagement can drive a firm’s sustainability strategy by creating a values-driven culture of collaboration and creativity
According to him, the collaborative workplace means that information flows freely between workers and the CEO, adding that to increase employee engagement, companies can clearly articulate what their corporate purpose is, and then give employees a way to take part in that purpose .
He added that an effective leader must be accessible, know their employees, is available to help overcome unexpected challenges, acknowledge their employees’ efforts and provide additional guidance when needed.