Management experts seek strong, sustainable institutions to boost national development

Experts in management have called for viable, strong and sustainable institutions as a tool for the promotion of national development.

They argued that Nigeria would have been ranked among 20 developed countries of the world if the existence of strong men in large numbers were crucial to development.

The experts submitted that some of these men exhibit such vessel as zeal for development and good governance, patriotism, integrity and transparency among others when they are out of office than when they were in office, stating that “having secured their loot, they now bestride the nation as apostles and self-acclaimed role models of probity and integrity, attributes not attested to by their records in governance.”

In a speech delivered by the President and Chairman of Council, Nigerian Institute of Management (Chartered), Prof Olukunle Iyanda at the 2018 Distinguished Management Lecture organised by the institute, Iyanda spoke on ‘Building enduring and Sustainable Institutions’.

The NIM boss stressed the need to build strong institutions to develop the country so as to serve as catalysts for good management with the resultant economic development and the wellbeing of the citizenry.

“Strong institutions contribute more to development than strong men. Institutions ensure greater continuity and are less susceptible to individual manipulations and idiosyncrasies. Strong and enduring institutions take time, commitment, sincerity, and determination to build. It is not a surprise therefore that practically all developed countries are those governed by institutions and concepts, such as the rule of law rather than of men,” he submitted.

The guest speaker, who is the chief executive officer of Centrespread Grey, Moruf Ayanwale, who spoke on the theme ‘The Challenges of Institutional Building: A personal Experience’, told the gathering how centerspread was able make sway in the advertising industry through understanding of the emerging trends in the industry to other auxiliary competencies and skills and opening subsidiaries to cater for those emerging business needs to satisfy its clients among others.

For businesses to outlive their owners and perhaps thrive, the Centrespread Grey boss stated that it was necessary for business owners to build a deliberate succession plan, adding that it will involve training the next generation to continue to run with the vision of the company.

“It is important that we do not leave the decision on succession planning too late. We must infuse in a system, a process that promotes quality talent, competence, performance and dedication.

The capacity to continue to reinvent the company for growth and to sustain the overall vision should be paramount in our choices,” he added.