'While everything may appear to be going well initially, the absence of robust systems rooted in best practices eventually leads to disintegration, resulting in financial losses, job cuts, stagnation.'
The Director-General/Chief Executive Officer, Institute of Directors Nigeria, Mr Dele AlimiThe Director-General of the Institute of Directors, Bamidele Alimi, in this interview with HENRY FALAIYE speaks on how poor corporate governance practices have been affecting the growth of startups
Companies that neglect proper corporate governance often fail to adhere to the best standards and practices in their operations, leading to severe and difficult consequences. While everything may appear to be going well initially, the absence of robust systems rooted in best practices eventually leads to disintegration, resulting in financial losses, job cuts, stagnation, and ultimately, the demise of the business.
For startups, these cautionary tales serve as valuable lessons, urging them to establish a strong governance structure from the outset. By learning from the failures of larger corporations, startups can set their sights on success and prioritise implementing sound governance practices from the very beginning.
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