Skirts in the Boardroom

Skirts in the Boardroom

Gender equality and the empowerment of women in the society has been a goal that has existed for decades considering religious and social standards, a woman is said to be weaker than a man. Other common expressions in use are: “weaklings”, “must be submissive”, “helper ”, “home make/keeper ”,“sex machine“, “baby makers ”, “skirts in the boardroom’.

Also, in the professional world, when some professions are mentioned, the gender that comes to mind is the female gender. Some of these professions are: secretary, hostess, sales representative, caterer, teacher, among others. All these aforementioned can be said to exist at a time. Better said, exist at its minimum in recent times. Even the language of adverts is better these days. Some of us can still remember the UBA jingle. (Wise men bank with UBA…) that was later modified to (wise men bank with UBA, wise women too with UBA…). Gender equality and women empowerment, (MDGs Goal Three) where are we in Nigeria?

This piece will discuss three generation of women, their activities, experiences, passions, and future. For easy reference, the first generation, I call the grand-mothers, the second generation will take the position of the mothers, while the third generation I call the daughters. The first generation is the successor of women of ancient times. They had few opportunities and made good use of what they had. These are the generation that spoke in their time and said a capital “NO” to female suppression. In fact, they laid the foundation for the feminist movement that some women modified as “womanism”. These generations cleared the path for what we have today as the sexist language where women are  put into consideration in daily conversation. Part of the joy of existence is communication; these group of women said no to suppression in a society where the voice of a woman is unheard, where the double standard exist, where women were sex objects, where women were the property of a man, where a woman dare not talk when a man talks, where a woman dare to say no, a world of no recognition for the identity of a woman. To mention but a few of these women were Olufunmilayo Ransome-Kuti and Eniola Soyinka (wild Christian).

These women damned the consequences, refused to be kept mute for life ,liberated the posterity and allowed history to absolve them.

Suppression continued ever after the generation of the grandmothers but they had already set the pace of speaking up, they set the pace of expressing the identity of a woman and the struggle against female oppression was actively championed in their time.

The mothers, that is, the second generation of women saw the great value in education, went for it, in a world where education was considered only for the male gender. They strived to be at their best. These brought out their voices that have been silenced for a long time. I salute their courage.

These women are found in all professions as lawyers, doctors, professors, engineers, linguists, and accountants and are active in their profession. Now, we have ladies in the boardroom, also as head of various units in organizations, vice-chancellors in universities, presidents of professional bodies and even pastors in churches. It is an awesome shift, isn’t it?

These women, because of the knowledge they have acquired could carry–on with the struggle on female suppression. To mention but a few, we have, Professor M.E.M. Kolawole, Prof. Alele-Williams (First Nigerian Female Mathematician and Vice-Chancellor), Prof. Dora Akunyili, Dr. Obi Ezekwesili, Dr. Ngozi Okonji-Iweala, Chimanda Adichie, Prof. Adedoyin (who composed the national pledge), Erelu Olusola Obada, Kofoworola Bucknor, Abike Dabiri-Erewa, amongst others. They are part of the feminist movement. Women can now do what a man can do even much better based on the performance of these women that brought about their recognition as women of substance. They have complemented the beauty of an African woman with the knowledge pursuit. When some women took the feminism movement from the radical point of view, which turned them into anti-male, some other women that have a good sense of the balanced and fulfilled woman came up with the movement called “womanism”. “Womanism” says no to female suppression and believes in gender equality. Womanism is not anti-man, they are not haters of men, but believe that both sexes should work together to have a better world to exist in. Both the man and the woman take care of the home (family relationship), they put heads together to have the best in the work environment, in the various religions, men and women have their roles to play, even in the politics of the nation, we have   female ministers, and female deputy governors, for example,  Erelu Olusola Obada in Ogun State and   Mrs. Sarah Sosan in Lagos State.

More so, the third generation that is, the daughters are the up-coming young feminine minds that see the sky as the starting point. They see themselves as beautiful within and without, their shoulders are tall and heads are high. They can only see the best coming their way. They are carrying on the battle of identity consciousness. Now, we have better expressions describing a woman. For example, “what a woman cannot do, only God can do it”, “a woman of substance”, “epitome of beauty”, “quintessence of excellence”, “rare gem”, and so on.  Also, the rate of teenage pregnancy has steeply reduced , teenage marriage barely exist, we now have NGOs championed by men and women of understanding e.g. Society for Family Health (SFH), Association for Reproductive and Family Health (ARFH), e.t.c. minding the good growth and development of both male and female children and educating adults on how to lead a better life. In fact, from a recent survey of a senior secondary school in Lagos: Aguda Grammar School. The data we have below is that of boys and girls in the school through the three levels of senior secondary education in four years.

2005/2006 Session

	Boys	Girls
S.S.1	214	330
S.S.2	224	227
S.S.3	170	167
Total	608	724

2006/2007 Session

	Boys	Girls
S.S.1	244	355
S.S.2	300	270
S.S.3	190	195
Total	734	820

2008/2009 Session

	Boys	Girls
S.S.1	383	309
S.S.2	339	317
S.S.3	221	196
Total	943	822

2009/2010 Session

	Boys	Girls
S.S.1	340	404
S.S.2	350	354
S.S.3	250	304
Total	940	1162

From the data above, the level of female education is encouraging, it tells us how far, we have come in achieving the MDGs goal three (3), i.e. “promote gender equality and empower women” in Nigeria. This gives us the hope that more would be achieved in the nearest future. Then we can talk not only of the skirts in the boardrooms but also stilettos at the core of business.

Things Can Only Get Better

It is a good world they say, but what is good about the world we exist in. The message of hope is, ‘it is well’. Some even say, ‘life is good’.

Is life good indeed, in a world where we dare not say no even at the proclaimed state of freedom. Government is not helping matters; I do not expect anything from the government because since I was a child the song has always been that we have a poor leadership.

The next door neighbors are not in anyway better. Maybe I should assume that life challenges have taken their good selves and have replaced it with the unfair state of nature. I reminded myself of the good truth that it could be costly to assume.

I said the state of nature is unfair but the laws of nature are good. They should guide us into leading right and with less mistakes and evil. May be man has structures or determines the state of nature.

Oh! I am tired, tired of what. I think I am not helping matters. If I think I am not helping matters, I better think of a solution, but what can I offer. Even if I do not know what to offer, I should take consolation in the proven fact that thinkers are the reformers. The world awaits a man that can think.

Let’s think of the events around us, what about family relationships, the church people? What is the message of truth doing to us? 

I don’t think I can continue with this article, everything seems dark. Ooooooooooh!

Uuuuuups! I can see a glimpse of the light; I think I have been too pessimistic. There is God. I believe! God is love, says the Bible. Man is configured in the image of God who is love; therefore man is a loving being. Why are we not sharing love? I think this is a question everybody must answer. I have started thinking; therefore, I think it is because love should be reciprocal. Express love to someone today in an amazing way, I mean in an unconditional way and let us see. I bet it, if you love unconditionally, you will not notice that your love is not requited.

Ask me what I now see after I started thinking? I see hope. I cared to look at the photograph of a less privileged child in a poverty stricken nation. The boy smiled, while carrying his almost hunger-dead brother and I saw hope. In fact, I gave myself a good slap, the type of a clean slap that a commercial driver could receive from an angry may be hungry policeman. Why will I be full of despair after all, I am  better of?

Thinkers are the reformers, I repeat. The great philosopher said, I think therefore I exist, Cogito Ergo Sum, meaning we exist to think. If we are not fulfilling the purpose of existence, then the society may be a cruel place to live in. may be I should ask, does anyone have his or her brain to spare? At least if we are not using our brain, probably, we should practice frugality, lend it out to people.

Did I say I see hope earlier? Tell the single mother that is a petty trader beside your house that things can only get better, tell that husband with a wounded home that even when the Bible says it is better to stay in the wilderness than with a lascivious and angry woman, things can only get better, what about the confused leader that is struggling with sabotage, things can only get better, the doctor that can not fulfill his passion of helping the afflicted due to a lack of the equipment needed, tell him to improvise. This is my message of hope!

I need to share this story; I was at a hospital, where we had two doctors, battling with a patient whose liver is in pieces. The patient was as good as dead! The two doctors had the following conversation:

Doctor A: let’s wait for his people to come and carry their corpse

Doctor B: But this man still has life

Doctor A: Alive with a torn liver

Doctor B: The reason he was brought to the hospital

Doctor A: ok, I wish you the best. Try your best and tempt the God you serve

Doctor B: When there is life, there is hope. I hope he will be fine.

Doctor B began the thought process, how do I rescue this man with my skills.

In the dead of the night when the nurses were probably asleep, he performed an operation, putting together the torn liver as if he was sewing pieces of cloth together. After the operation he went home. Returning in the afternoon, the great Healer had perfected Doctor B’s work. The patient could talk slowly. For real! Doctor B was happy, thanking God. While doctor A, wondered and said anything could be possible, if you are willing.

This is my message of hope. Be hopeful and keep thinking, how do we have a better world to live. After all I started this article in the dark and suddenly, I see hope. Hope does not exist in a vacuum, people give hope. My supervisor gave me hope. I hope I give hope to at least a life before the day runs out. I am still thinking!

Corporate Social Responsibility

              Corporate Social Responsibility (CSR).

Corporate social responsibility simply put is a strategy for a successful business whereby an organization gives its best to the community in which it operates, and as well attains its objective of profit making. In other words, CSR explains the quality of management’s decision in an organization as well as the impact of the organization on the society. CSR is an ethical and responsible way of doing business.

The World Business Council for Sustainable Development in its publication "Making Good Business Sense" by Lord Holme and Richard Watts used the following definition.

 "Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large"

CSR finds capacity in building people for sustainable livelihood. CSR sees opportunities in different cultural environment and maximizes such opportunity by giving back to the society.

CSR brings about the company’s image to the public. It is a tool of marketing that brings acceptability to an organization. Definitely, a company gets its resources from the society, giving back to the society makes the society fulfilled. For example, a telecommunication service provider exists in a community where electric power supply is a nightmare; the company decides to install a transformer for power generation and as well fix its mast in the community for a better network.  Sure! The entire community consciously or unconsciously begins to see the telecom service provider as the best among its competitors. Reasons could be because the service provider has marketed its services by solving the community’s pressing need. Sending a message to the community that we care about you and in turn the society responds positively by subscribing to their network because good things in life are reciprocal.

CSR goes beyond the charity program, i.e sheer community development initiative. A good management of the organization, transparency in financial reporting, good and reliable products and services, quality customer care, environmental consciousness, employee welfare and so on is part of social responsibility.

“I've always said that the better off you are, the more responsibility you have for helping others. Just as I think it's important to run companies well, with a close eye to the bottom line, I think you have to use your entrepreneurial experience to make corporate philanthropy effective.”
Carlos Slim Helu

Most excellent organizations  are into social responsibility because in the in the first place their philanthropist attitude cleared the path to their success.

“Business social responsibility should not be coerced; it is a voluntary decision that the entrepreneurial leadership of every company must make on its own.”
John Mackey

The Importance of Corporate Social Responsibility

The importance of corporate social responsibility cannot be overemphasized. While some executives see CSR as an unnecessary intrusion into an organization’s business and a form of distraction, some see it as a necessity and also, a means to profit making. We can liken CSR to that proverbial elephant being felt by different blind men. It is interpreted in many ways but, nonetheless, is a large, single body, and one that is on the move.

“In October 2004, the Economist Intelligence Unit in Cooperation with Oracle Corporation conducted an online survey of corporate executives around the world and a separate online survey of institutional investors, asking them to assess the importance of corporate responsibility. In all, 136 executives and 65 investors responded. The main findings of the survey include:

·        Eighty-five percent of executives and investors surveyed said CSR was now a “central” or “important” consideration in investment decisions. This figure is almost double the 44% who said CSR was “central” or “important” five years ago, demonstrating the growth in CSR’s significance.

·        The three most important aspects of CSR for executives surveyed were: ethical behavior of staff (67%); good corporate governance (58%); and transparency of corporate dealings (51%).

·        For institutional investors, transparency of corporate dealings was even more important. Sixty-eight percent said it was one of the three most important aspects of CSR, followed by high standards of corporate governance (62%) and ethical behaviour of staff (46%).

·        Eighty-four percent of executives and investors surveyed felt CSR practices could help a company’s bottom line.

·        Brand enhancement (61%) and better staff morale (67%) were picked by both groups as the most important business benefits of CSR.

But both groups also cited cost implications (42%) and unproven benefits (40%) as the two biggest obstacles to implementing CSR programs…”

(Economic Intelligence Unit, by Oracle, 2004)

We can agree that CSR enhances employees morale and commitment; better relations with government and local communities; competitive advantage over rivals; and brand with the customers.

Companies achieve this by applying divers means which include: Ethical behavior on the part of employees; high standards of corporate governance; transparence in corporate dealings; labour practices and employee rights; philanthropic and charitable giving; and environmental practices.

CSR and the Millennium Development Goals.

At the end of the last millennium, the 189 that constitute the United Nations came up with the Millennium Development Goals (MDGs). There are eight goals in all and they are aimed at solving the world economic problems. This goals are : Eradication of extreme poverty and hunger; Universal basic education; Gender equality and the empowerment of women; Reduction of the child mortality rate; Improved maternity health; Combat HIV/AIDS, malaria and other diseases; Environmental sustainability; and Global partnership for development.

The United Nations saw CSR as a tool to achieve the MDGs. Not only is CSR a tool, it is a relationship of a mutual benefit. While an organization invests in an environment, there is a positive impact on its business. United Nations identified three ways an organization can benefit from CSR:

 Investing in a sound business environment: A sound environment is necessary for a business to thrive. Sound and capable workforce will aid business, and the essence of every business is the demand for its product and services. All these can only be achieved when the goals are achieved.

“…I believe that it is part of building good sustainable businesses to help establish safe, secure, stable and peaceful societies. Business thrives where society thrives.”

Peter Sutherland, Chairman BP and Goldman Sachs

around “The Business of  Peace”

(IBLF, With International Alert and CEP, 2000)

Also, attaining MDGs through CSR will aid managing direct cost and risks.  Sick leave will be reduced, operational cost, raw material cost, hiring, and training of personnel cost, security cost, and insurance cost will reduce thereby reducing the total cost of production.

More so, the MDGs and CSR relationship will expose organizations to new business opportunity. Different environments have its own demands. A company can tap into this and make their profits while satisfying social needs.

Not only can corporate and social needs be integrated, but the success of the developing world in improving prosperity is of fundamental strategic                                                          importance to almost every company.

Professor Michael Porter, Harvard Business School around “Tomorrow’s Markets”

(WRI, WBCSD AND UNEP, 2002)

In conclusion, Corporate Social Responsibility is a strategic aspect of business that aids the achievement of the objective of any business while positively impacting on the society.

References:

 Dave Precott and Jane Nelson, (2003) “Business and the MDGs: A Framework to Action.”

Oracle, (2004), “The Importance of Corporate Responsibility”, a White Paper from the Economist Intelligence Unit.

Lord Holmes and Richard Watts “Making Good Business Sense,” A publication of World Business Council for Sustainable Development.

Drops of Water

 Drops of Water

I wonder what drops of what can do to my room if it is continuous for days, weeks, months and even years. I know people say that little drops of water make the ocean someday. Still wondering, I asked myself, why people work for years and immediately or after some time when they stop work they don’t just have what to fall back on. It could be as a result of ignorance, yes, I think this should be the answer. If people are equipped with the knowledge of the investment options that they have, this will encourage them to save for luxury or for the raining day.

One of the investment options is investing in government bonds. With a publication from the Debt Management Office, i am encouraged to write this. Government bonds are a medium-to-long-term debt instrument with maturity of two years and above. It is a contract of lending money while an economic agent lends money with the obligation to pay interest periodically and to repay the principal at maturity.

FGN Bonds is Federal Government of Nigeria certificate of indebtedness. It is considered as risk free as payment of interest and principal is guaranteed by the FGN.

The morale  beyond the issuance of bonds are:

• To find part of its expenditure that is not covered by its revenues (fiscal deficit)
• To provide infrastructure, such as, power, roads, water and health, necessary for the development of the economy.
• To increase the range of instrument available to the  public for investment purposes
• To support the growth of the domestic bond market in order to promote economic growth
• To enable the Federal Government effectively support the growth of the financial markets as part of the requirements for achieving its goals.

The following are the benefits of the bonds to the investor:

• Relatively high and stable returns
• Investment is free from default  risk
• Tax-free income
• Qualities as collateral for borrowing
• Tradable either over-the-counter (OTC) or on the floors of the Nigerian Stock Exchange (NSE).
• Qualities as liquid asset for banks

Who is eligible to invest?

• Households: Individuals and families both foreign and residents.
• Small businesses: Traders, Merchants, Professional Practices, etc
• Associations and unions: chamber of commerce, professional bodies, dtudent union,etc
• Educational institutions
• Corporate Entities: Banks, insurance companies, pension funds, etc
• Government: government agencies, state and local government.

How to buy bonds:  Bonds can be bought directly from the primary dealers appointed by the Debt Management Office (DMO). Also, bonds can be bought from the secondary market, through the primary dealer market  makers (PDMM) which comprises of the16 banks and 5 discount houses. The banks are:

• Access Bank Plc
• Afribank Nigeria Plc
• Bank PHB Plc
• Citibank Nigeria plc
• Diamond Bank plc
• Ecobank Nigeria plc
• Fidelity Bank Plc
• First Bank of Nigeria plc
• FCMB
• GTB
• Oceanic Bank Int’l Plc
• Stanbic IBTC Bank Plc
• Standard Chartered Bank Ltd
• Union Bank of Nigeria
• United Bank for Africa Plc
• Zenith Bank Plc

The  discount houses are:

• Associated Discount House Ltd
• Consolidated Discount Ltd
• Express Discount Ltd
• First Securities Discount Houses Ltd
• Kakawa Discount House Ltd

The tenor for investment could be 3,5,10 or 20 years. The minimum amount needed to buy bonds is N10,000.00 and N1,000.00 thereafter. Interest will paid every 6months in arrears until maturity date. This will be credited to the designated bank account of the bondholders.

I believe this is informative. Dare to invest and enjoy the benefit of investing.

Business and the Millennium Development Goals

  Business and the Millennium Development Goals.

The Millenium Development Goals (MDGs) was born in September 2000, when the 189 heads of states ratified the millennium declaration. This is an unprecedented global commitment which is after solving global challenges. There are 8 goals in all with indicators and target set for the attainment of these goals by 2015.

I know you must be wondering by now what these 8 goals could be. They are to:

-Eradicate extreme poverty and hunger

-Achieve universal primary education

-Promote gender equality and empower women

-Reduce child mortality

-Improve maternal health

-Combat HIV/AIDS, malaria and other diseases

-Attain environmental sustainability

- Develop a global partnership for development

A deep reflection will affirm that the challenges facing the world revolve around these 8 goals. Also, these goals are related. The attainment of one will promote the other. The neglect of a goal will damage the beauty of the remaining 7. You can imagine the attainment of other goals without achieving universal basic education.

Why are these goals important to business? I will give 3 broad reasons why it makes a sound business sense to promote the Millennium Development Goals.

• Business thrives where society thrives. The ideal thing for an entrepreneur is to invest in a sound environment to do business. This is only when the factors of production will be in place and of a good quality. The factors of production are: Land, Labour, Capital and Entrepreneurship.  The MDGs goals aid these factors.
• Managing the direct cost and risk of doing business
• Harnessing new business opportunities. The success of developing world in improving prosperity is of strategic importance to almost every company, while corporate and social needs are integrated.

Business can contribute to MDGs through core business activities in the workplace, market, and along a supply chain; Also, through social investment and philanthropy activities and their engagement in public policy dialogue and advocacy activities.

Narrowing it down to individual participation will make the attainment of these goals realistic. People are the most vital resource in any business. They are the intellectual capacity that drives any business. So, what can you do to help your next door neighbour? It could be your words of encouragement; it could be knowledge sharing, financial support not leaving out a positive attitude.

Creativity

Creativity: A Crucial Factor to Success

Creativity is defined as the tendency to generate or recognize ideas, alternatives or possibilities that may be useful in solving problems, communicating with others and entertaining others not leaving out ourselves.

Creativity is simply coming up with ideas that are new and appropriate. It is rooted in innovation, invention, and originality. Novelty with value truly defines creativity. Coming up with new ideas is the beginning of creativity but it becomes perfect when the new ideas are turned into reality.

More so, creativity promotes success. This life is pleasant as a result of creativity. The successful professionals are the ones with the creative minds. The great scientist, inventors, musicians, politicians, artists, managers and so on are the creative people.

Creativity is an approach to problem solving. I once read a story of a man that can be compared with the character, Shylock in Shakespeare’s ‘Merchant of Venice.’ This man lends a poor man an amount with a condition he knew the poor man cannot meet up with. The penalty is that the lender will take as wife the only daughter of the borrower in case of a default in payment.

Apparently, the poor man defaulted and he appealed to pity. The shrewd lender pretended to be compassionate while he handed the poor man and his daughter over to chance. He took them to a land full of pebbles and said, ‘I will put a black and a white pebble in a sac. If your daughter chooses the white pebble, your debt is forgiven but if she chooses the black one, then she becomes my wife.’

The egregious lender deliberately picked two black pebbles, not knowing that the borrower’s daughter saw him. At first, the daughter felt there was no hope. Chance will not work because both pebbles are black. While the lender was happy that he will surely take home his young bride.

Moreover, every man has a creative tendency, the borrower’s daughter became fearless and picked a pebble from the sack, quickly dropped it on the ground that is full of both black and white pebbles and apologized for being unnecessarily jittery due to anxiety. Then she says the pebble left in the sack should determine the pebble she picked. Obviously, we know the lender had put two black pebbles in the sac. The lender was sad, while the borrower, not knowing what had happened grabbed the sack to see the pebble therein. When he saw that it was the black pebble, he jumped up and screamed, ‘my daughter picked a white pebble!’ This was how their debt was forgiven.

The story above says no problem is insurmountable to a creative mind. It is true that thinkers are reformers. Creativity is indeed a crucial factor to success.

The Air I Breathe

This is my way of life. It is just my style. I believe life is too short to be little, so why not enjoy it. I want to enjoy it but challenges seem to deny me of my pleasures.

Then i say to myself, challenges is meant to be enjoyed. It builds the man. It makes us stronger as humans. I look back to my mistakes and say to myself,  i am a better person, thank goodness i experienced those moments.

Sometimes i lose my esteem, i don't just value myself. But the truth is people still want to be like me. Then i said to myself why don't you make the most of any situation, be it good or bad.

Whenever i am bothered i write my worries on a sheet and keep it under my pillow to be reviewed later. This has worked for me over the years. I review after two weeks of writing and i laugh at the situation. Life is indeed pleasant.

 I am the change i want to see in my environment. Even when people around me are not getting it, i keep acting right. There is a law of time and chance, and also, the natural law of patience that will make them understand how well to live life later. For some people, it is early to realize how to live right, for some other, it is in their old age while the truly wicked people realize how good to lead life at the point of death.

Everything looks disjointed, not connected but at times life could be like that, but i have learnt to enjoy that which i have. Also, things generally comes to place,it is all a matter of time. So why bother when all i need to do is to move at the pace i have defined.

My pastor once told me of three set of people, the haves, who are complacent. They don't want more. The second class of people are the have-nots, they lack hope. They believe nothing is possible, they have given up on life. The third category are the Have some, want more. This people people like challenges. They look forward to stepping higher and making their world more beautiful every day not minding the circumstance around them.

I love myself. I don't see the dark. All i see is hope. No one showed me hope. I see hope myself.

Talk to you later.